Gold Drops Sharply After U.S. Says It's Relaxing Some Of Its New Chinese Tariffs
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(Kitco News) - Gold prices have sold off sharply and dipped back below $1,500.00 on news reports the U.S. plans to ease off on putting new, additional tariffs on Chinese imports. U.S. trade officials say some of the new tariffs won't go into effect until December, adding that the two sides will resume trade negotiations in a couple weeks. The marketplace is reading this news as a positive step, including maybe the U.S. "blinking."Â U.S. stock indexes are rallying sharply on the news as risk appetite has quickly re-emerged on the U.S.-China trade news. December gold was last down $15.50 an ounce at $1,502.00.
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