Gold and Oil gain value as US-China end trade hostilities for 90 days

By MG News | December 03, 2018 at 11:40 AM GMT+05:00

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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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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%