logo
  

Gold Prices Mixed As UK Election Gets Underway

Gold prices traded mixed on Thursday as investors exercised caution ahead of a U.S.-China tariff deadline and amid the closely watched British election, with polls predicting a narrow Conservative win.

Spot gold edged down marginally to $1,474.39 per ounce, while U.S. gold futures were up 0.25 percent at $1,478.75 per ounce.

Speculation is rife that the Trump administration may delay additional tariffs on about $160 billion worth of Chinese goods slated for Sunday.

Polling stations have opened across Britain for the "most important general election in a generation". The latest opinion polls indicated that the race has tightened significantly.

The Conservatives are hoping for a majority win, enabling to take Britain out of the European Union by the end of January. Today's election has been described by all parties as Britain's most important in memory.

Investors also await Christine Lagarde's first ECB meeting as President for clues about the future of monetary stimulus.

Earlier today, the Swiss National Bank held interest rates at rock bottom and reiterated its intervention threat.

The dollar hovered near four-month lows, a day after the Federal Reserve left interest rates unchanged, as widely expected, and indicated it would not tighten monetary policy prematurely.

For comments and feedback contact: editorial@rttnews.com

Inflation data from the U.S. garnered maximum attention this week on the economics front, along with the interest rate decision by the European Central Bank. Read our stories to find out how these two key events are set to influence monetary policy in the months ahead. Other main news from the U.S. were the release of the minutes of the latest Fed policy session and the jobless claims data. Elsewhere, the interest rate decision by the Bank of Canada was also in focus.

View More Videos
Follow RTT