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Gold trading volatile, but prices still higher in late AM trade

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices have backed well down from their daily highs in late-morning action Thursday. Trading is volatile with prices moving rapidly. News reports that the Trump administration is weighing making a trade deal with China, including rolling back trade tariffs, are bearish for the safe-haven metals. However, this matter has been all over the map in recent weeks, amid mixed rhetoric coming from both the U.S. and China. The marketplace is also still digesting the unexpected aggressive easing of monetary policy by the European Central Bank this morning. Trading has been volatile in other markets, too, as the U.S. dollar index has sold off after trading solidly higher in the immediate aftermath of the ECB news. The U.S. stock market is also down from its daily highs. December gold was last up $13.60 at $1,516.70.

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