Gold Edges Down Marginally, Settles Below USD1,200


WASHINGTON (Alliance News) - Gold prices moved in a very tight range on Monday, amid mounting concerns about the ongoing trade war between the US and its partners and its likely impact on the global economy.

The dollar, despite losing some ground against some major currencies, especially against the pound sterling, is expected to remain steady, as markets expect the Federal Reserve will hike interest rates this month.

Gold futures for December ended down USD0.60, or 0.05%, at USD1,199.80 an ounce. On Friday, gold futures ended down USD3.90, or 0.3%, at USD1,200.40 an ounce.

Silver futures for December settled at USD14.181 an ounce, gaining USD0.011, while Copper futures ended up USD0.055, at USD2.6280 per pound.

Speculation about a rate hike has increased following last week's jobs report from the Labor Department that showed an addition of 201,000 jobs in August and a surprise rise in wages.

On the trade front, the US President Donald Trump threatened on Friday that his administration would impose new tariffs on USD267 billion of Chinese goods. Trump also called on Apple to move production from China to the US to avoid suffering the consequences of his trade war with Beijing.

Trump reportedly told a columnist for The Wall Street Journal last week that he was "still bothered by the terms of US trade with Japan."

http://www.lse.co.uk/AllNews.asp?code=26dtprwu&headline=Gold_Edges_Down_Marginally_Settles_Below_USD1200

AUD / JPY 95.166 / 95.144

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AUD / NZD 1.07073 / 1.07018

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AUD / USD 0.78241 / 0.78214

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CAD / JPY 98.991 / 98.963

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EUR / AUD 1.4047 / 1.40434

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EUR / CHF 1.03539 / 1.03509

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EUR / GBP 0.70983 / 0.70968

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EUR / JPY 133.66 / 133.644

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EUR / USD 1.0988 / 1.09862

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GBP / AUD 1.97908 / 1.97857

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GBP / CHF 1.45866 / 1.45825

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GBP / JPY 188.32401 / 188.284

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GBP / USD 1.54809 / 1.54785

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NZD / JPY 88.917 / 88.871

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NZD / USD 0.73091 / 0.73062

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USD / CAD 1.22916 / 1.22887

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USD / CHF 0.94232 / 0.94201

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USD / JPY 121.655 / 121.635

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