Gold prices fall amid warming relations between the US and China

Gold futures are rapidly falling amid signs of warming in trade relations between the US and China.

This is reported by TUT.AZ with reference to "Interfax".

Quotes for June gold futures on the Comex exchange by 20:26 Baku time collapsed by 1.6%, reaching $3293.7 per troy ounce.

According to media reports, Beijing has decided to cancel import duties on a number of American goods. Earlier, US President Donald Trump reported that the countries are actively conducting direct negotiations on concluding a trade deal.

Additional pressure on gold is exerted by the strengthening dollar, which is preparing to end the week in positive territory for the first time since mid-March.

The DXY index calculated by ICE, which reflects the dynamics of the dollar against major world currencies, shows growth of about 0.1%. Since the beginning of the week, this important indicator has strengthened by approximately 0.3%.