Gold price erases daily losses as Trump says he has not yet agreed to roll back China tariffs

New York (Nov 8)  Gold prices in late-morning dealings Friday have eliminated their moderate daily losses that drove prices to a three-month low overnight on news that President Donald Trump said the U.S. has not yet agreed to roll back tariffs on Chinese imports. News reports on Thursday said a U.S.-China partial trade deal was very close to being signed and that both sides had agreed to roll back their tariffs. Today's Trump comments inject fresh uncertainty on the U.S.-China trade matter, and that is supporting some buying interest in safe-haven gold and silver--or at least limiting selling interest in their futures markets. December gold was last steady at $1,466.40.

By 11:20am EST spot gold was down $2 at $1,466, while spot silver was lower by a mere 5 cent at $16.95.However, spot palladium was hammered down $48 to $1,749.

KitcoNews

Gold Eagle twitter                Like Gold Eagle on Facebook