December 03, 2018 (MLN): Gold prices gained value during initial hours on Monday on a weaker dollar, following restoration of investor’s demand for riskier assets after United States and China decided to terminate their trade hostilities for at least 90 days during a weekend meeting in Argentina of the Group of 20 (G-20) leading economies.
Spot gold was up 0.3 percent at $1,225.67 per ounce at 0407 GMT, while U.S. gold futures were up 0.4 percent at $1,230.4 per ounce.
Likewise, the Oil prices increased on Monday after the United States and China agreed to a 90-day break in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut.
U.S. West Texas Intermediate (WTI) crude futures were at $53.63 per barrel at 0358 GMT, up $2.73 per barrel, or 5.4 percent from their last close.
International Brent crude oil futures were up $2.8 per barrel, or 4.8 percent, at $62.30 a barrel.
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