Gold Prices Into A Steady Pattern

Gold prices rallied this morning, especially during the Asiam trading hours amid some negative forecasts over the trade deal reported by Washington last week.

Now, the precious metal trades at $1478.24, which is an addition of $2.22 or 0.15% from the previous close of $1476.02.

The daily range is from $1474.27 to $1479.35, while the trading volume is 53.813K.

Most market specialists estimate that it is still not how Beijing will meet the obligation of additional buying of American agricultural products.

It is likely that China could benefit from cheaper prices from feedstock from Brazil and elsewhere for better prices and precise quantities, without such forced purchasing quotas.

Moreover, the Federal Reserve Bank of New York’s publication on the general business conditions in the 2 quarters marked its best of the last five-months, which is further contributing to the rising mode.