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Despite some two way action, gold prices are ending the week in the red, as of writing. Earlier in the week, gold prices were weighed down by a firm recover in risk sentiment. It had improved in response to better relations between the US and China. Equities initially rallied on the news that the next set of Trump’s tariffs are postponed for two weeks. This was in line with reports that China was considering US agricultural purchases.
Later in the week, this theme developed further. Reports highlighted that the Trump administration is now considering offering China a limited trade deal. This would postpone further tariffs and even roll back some of the tariffs already in place. This would be in exchange for a commitment to intellectual property as well as agricultural purchases.
On Wednesday Trump announced that a 5% levy increase which was due to take effect as of October 1st, would now be postponed for two weeks. Trump said that China had asked for the delay and are also making plan...
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