Gold closes lower as dollar rises

Gold closed lower today, retreating from earlier gains as dollar rose against most major currencies due to the ease of the trade war concerns.

Trump’s administration decided to delay the tariffs increase on several Chinese imports until mid-December.

Additionally, the US Treasury Department canceled tariffs on several other imports, and Trump commented that the decision is due to the Christmas season.

As of 19:00 GMT, dollar rose against a basket of major currencies by 0.4% to 97.7 points, with a high of 97.8 and a low of 97.3.

Gold futures fell by 0.2% to close at $1514.10 per ounce, with a high of $1546.10 and a low of $1488.9.