Gold prices fell in three trading sessions through Friday (09 / Mar) this afternoon, following a stronger dollar against the safe-haven Yen. Hope will ease tensions between the United States and North Korea ahead of the US Non Farm Payroll (NFP) report later tonight, prompting investors to return to the US dollar.
Trump Will Meet Kim Jong Un
US President Donald Trump said last night that he would be preparing for a meeting with North Korean President Kim Jong Un. This is great news because it will be the first meeting since the various conflicts that have been launched by both countries. The market hopes that the Trump and Kim Jong Un meetings will result in a peaceful nuclear issue and resolve the tension between the two.
"We (market participants) are paying attention to the reaction to the Trump-Kim Jong Un meetings, which is why the safe-haven assets are depressed. Spot gold prices fell 0.3 percent to USD1,318.06 an ounce at 2:37 pm this afternoon. While XAU / USD traded flat and it was a little sticking up to the price of USD1, 320.0 per ounce. Gold futures on the Comex for April delivery shed 0.2 percent to $ 1,319.7 an ounce.
