Gold Drops After U.S. Says It's Relaxing Some Of Its New Chinese Tariffs
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(Kitco News) - Gold prices have sold off and are trading moderately lower after being solidly higher and hitting six-year highs overnight. The drop in gold prices coincides with reports the U.S. will ease off a bit on putting new, additional tariffs on Chinese imports. The marketplace is initially reading this news as maybe the U.S. "blinking" in its trade war with China. U.S. stock markets are rallying on the news as some risk appetite has re-emerged on the U.S.-China trade news. December gold was last down $7.20 an ounce at $1,510.40.
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