hi stemian friend
Gold prices turned negative as investor concerns about the prospect of a trade war eased. When President Donald Trump appears to be open to raising tariffs if a new, fairer Free Trade Agreement (NAFTA) has been signed.
Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell by $ 3.20, or 0.24%, to $ 1,320.20 an ounce.
In a series of tweets, Trump said: "Tariffs on Steel and Aluminum will only be revoked if a new and fair North American Free Trade Agreement (NAFTA) is signed." He also added that Mexico should do more to stop illegal drugs entering the US .
Also easing investor fears were comments from Chairman of House Speaker Paul Ryan who reportedly said that Republicans are very worried about Trump's plan because it could trigger a trade war, which
jeopardizes the economic benefits of recent tax cuts.
A stronger US dollar, pressing gold to retreat further as the precious metal moves toward negative in the day amid declining safe-haven demand.
Gold is sensitive to higher moves from the US dollar, a stronger dollar makes gold more expensive for holders of foreign currencies, thereby reducing investor demand for the precious metal.
The overall sentiment on gold remains fairly negative as investors continue to slash their bullish bets on yellow metal ahead of an expected March rate rise in the coming weeks.
Thank you friend ..