Gold prices were subdued in range-bound trade on Thursday even as the dollar weakened after the U.S. and the EU agreed to work on lowering trade barriers.
Speculation over possible changes to the Bank of Japan’s ultra-easy monetary policy is also keeping the U.S. dollar under pressure.
Spot gold was down 0.32 percent at $1227.40 an ounce while U.S. gold futures for August delivery were down 0.34 percent at $1,227.60 an ounce.
U.S. President Donald Trump and European Commission president Jean-Claude Juncker have agreed to work for zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto goods.
They also agreed to increase trade in services and agriculture, including greater U.S. soybean exports to the EU.
The offshore Chinese yuan fell against the dollar, reflecting indicators of slowing domestic growth and renewed trade tensions.
The material has been provided by InstaForex Company – www.instaforex.com