Trade War Truce Between China, the US Triggers Gold Selloff
The price of gold dropped below $4,000 an ounce as easing trade tensions between China and the United States triggered a selloff. Spot gold slipped by over 3% to reach $3,980 per ounce, with diplomats from both countries preparing a series of achievements for Chinese leader Xi Jinping and President Donald Trump to announce at their upcoming summit this week. The trade deal between the world’s two largest economies could help reduce certain economic uncertainties and geopolitical strains that have supported demand for the precious metal. The surge that pushed gold to an all-time high of just over $4,380 an…