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Gold Slips As U.S. Tariff Concerns Start To Ease
(RTTNews) - Gold prices fell modestly on Friday as investors see a glimpse of positivity with news of more countries signing deals with the US coming in and other major US trading partners brainstorming with their US counterparts to secure a deal before August 1.
Front Month Comex Gold for July delivery, lost by $37.00 or 1.10 percent to $3334.00 per troy ounce. Gold lost $19.00 or 0.57 percent for the week.
Front Month Comex Silver for July delivery, lost by 85.40 cents or 2.19 percent to $38.167 per troy ounce. Silver lost 05.60 cents or 0.15 percent for the week.
US President Donald Trump's extension of the deadline for "reciprocal tariffs" suspension period from July 9 to August 1 is expiring by next week.
With only a few days left, many trading partners of the US are getting into an agreement with the U.S. to avoid high tariff imposition on their exports to the US from August 1. UK, China, Vietnam, Philippines, Indonesia, and recently Japan, have joined the list of major U.S. exporters getting into an amicable agreement with the U.S.
High-level delegates from EU, Canada, South Korea, and India have expedited their negotiations with their US counterparts to get a fair deal without a deadlock.
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