Gold Futures Slip on U.S. Trade Deal Optimism
0728 GMT – Gold futures are broadly flat, holding higher prices after rallying for three consecutive sessions. Futures trade at $3,442.30 a troy ounce, and are up more than 3% on week. Gold's gains have chiefly been supported by escalating geopolitical risks, optimism about an easing in U.S. monetary policy, and persistent central-bank purchases, XS.com's Linh Tran says in a note. These factors are supporting gold's role as a safe-haven and store-of-value asset, Tran says. The precious metal still appears to have significant potential in the near to medium-term, Tran writes. Given consistent geopolitical and macroeconomic uncertainty, gold is well-placed to continue serving as a safe-haven asset for both institutional and individual investors, she adds. (joseph.hoppe@wsj.com)
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