Image courtesy of Barrick Mining.
Gold clawed back some losses after plunging below $4,000 an ounce in regular trading on Monday as progress in US-China trade talks sapped demand for haven assets.
Bullion edged higher after hours with December futures last trading at $4,021.00 per ounce after tumbling as much as 3.2% during the day after negotiators from Washington and Beijing said they’d struck a series of agreements on issues including tariffs and export controls.
Treasuries moved lower even as traders stuck to bets that the Federal Reserve is set to loosen monetary policy this week, with the higher yields weighing on demand for non-interest bearing gold.
Gold has pulled back decisively from a record above $4,380 an ounce last Monday following a blistering rally. It’s still up more than 50% this year, with central-bank buying and the debasement trade — in which investors avoid sovereign…
