Gold falls over 1% amid US-China trade optimism

Gold prices dropped over one per cent on Wednesday due to optimism about US-China trade talks, impacting the safe-haven metal before the Federal Reserve’s rate decision.

As of 12:10 PM GMT, spot gold dropped 1.18 per cent to $3,390.04 per ounce, higher than its previous close of $3,430.64. Meanwhile, US gold futures fell 0.70 per cent to $3,398.76 per ounce, down from Tuesday’s closing price of $3,422.8.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser