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

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	93,465.00	93,970.00 91,595.00	3275.00 3.63%
BRENT CRUDE	60.60	61.24 60.00	-0.15 -0.25%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.55 0.64%
ROTTERDAM COAL MONTHLY	98.15	98.15 97.40	1.25 1.29%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	57.11	57.73 56.56	-0.21 -0.37%
SUGAR #11 WORLD	14.60	15.05 14.57	-0.41 -2.73%