Gold loses $7/ounce as geopolitical worries abate

Gold loses $7/ounce as geopolitical worries abate

Mubasher: Gold prices declined after geopolitical worries eased, coupled with US-North Korea potential summit.

US President Donald Trump has announced that the US team arrived in North Korea for the preparation of his planned summit with his North Korea’s counterpart Kim Jong, which will take place on 12 June.

By 09:39 am GMT time, gold futures for August delivery retreated by 0.42% to $1,303.50 per ounce, while spot gold went down by 0.29% to $1,298.53 per ounce by 09:50 am GMT.

The US dollar index decreased 0.11% at $94.149.