fbpx

Gold Spot

Gold slid about 2% on Thursday to its lowest level in over a month as investor appetite for the safe-haven metal decreased after a U.S. official confirmed that Washington and China agreed to roll back tariffs as part of the first phase of a trade deal.

Technical Resistance: 1480/1491

Technical support: 1460/1443

 

Optimism progress in U.S.-China trade talks

China and the United States have agreed to roll back tariffs on each other’s goods as part of the first phase of a trade deal, officials from both sides said on Thursday, in further signs of progress even as both side continue to haggle over several contentious issues.

 

Bank of England surprises as two officials back rate cut

The BoE said that its nine-member Monetary Policy Committee voted 7-2 to keep its key rate at 0.75%, in sharp contrast to forecasts in a Reuters poll for a unanimous decision.

 

The People’s Bank of China (PBOC) set the midpoint rate at 6.9945 per dollar

China’s central bank lifted on Friday its official yuan midpoint to the highest level in over three months, breaching a key threshold, to reflect market optimism after Beijing and Washington agreed to roll back tariffs on each other’s goods if they reach a preliminary trade deal.

 

Source: Bloomberg, CNBC, Reuters

Dear All Customers,

We hope that all our patrons have been in good health especially during these troubling times of Covid 19. 1Stop Gold will be temporarily halting operations to undergo major construction to better serve the needs of our patrons. During this time of construction, we will not be accepting any orders for purchases. However, customers that are interested in selling any of their previous PAMP bars purchases can contact our office at 03 - 2172 8680 to arrange the necessary. Thank you & we hope that you and your family stay safe and are in good health.