Gold falls again as demand for havens wanes
Gold sagged again as the soon-to-be signed Sino-American trade deal, release of decent monthly economic figures from China, and steady easing of tensions in the Middle East all combined to undermine the case for havens just as US equities romped to records.
Bullion fell after the US lifted its designation of China as a currency cheat, saying the nation has made “enforceable commitments” not to devalue and has agreed to publish exchange-rate information. That sets the scene for Wednesday’s high-level trade pact signing.