Make Kitco Your Homepage

Gold Drops Sharply After U.S. Says It's Relaxing Some Of Its New Chinese Tariffs

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

Live 24 hours gold chart [Kitco Inc.]

(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."  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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.