World Economy

Gold Slips

Gold SlipsGold Slips

Gold prices fell slightly in early Asian trade on Monday as the dollar firmed on signs of easing tensions between the United States and North Korea, although the bullion was underpinned by continued concerns over US-China trade spat, Reuters reported. Spot gold was down 0.1% at $1,331.51 per ounce. Prices on Friday hit a more than 2-week low of $1,321.16 an ounce before closing 0.5% higher. US gold futures eased 0.1% to $1,335.20 an ounce. The dollar index, which measures the greenback against six other major currencies, was up 0.1% at 90.185. North Korea has told the United States for the first time that it is prepared to discuss the denuclearization of the Korean Peninsula when North Korean leader Kim Jong Un meets President Donald Trump, a US official said on Sunday. Meanwhile, Hedge funds and money managers slashed their net long position in COMEX gold in the week to April 3 and boosted their net short position in silver to a record, US Commodity Futures Trading Commission data showed on Friday. 

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