Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold was nearly flat, inching down 20 cents to close under $1,465 despite lower equities, as the market treaded water ahead of Federal Reserve meeting on monetary policy.

China reported exports falling for the fourth straight month as the trade war continues to take its toll. The US imported 23% less from China for the twelve months through November. Overall global purchases from China were down slightly at 1.1%, year over year.

The Dow and S&P 500 both fell 0.4% as investors shed risk after the China export data. Uncertainty over the status of trade negotiations also weighed on risk appetite. If no deal is struck by Sunday, additional tariffs of 15% are scheduled to be levied on another $156 billion in Chinese imports.

The dollar edged down slightly as the UK pound rose on polls showing Boris Johnson's Conservative Party with a strong position going into elections this week.

The Fed meets tomorrow to plot the course of interest rates. While few expect any changes to the benchmark, gold traders trimmed some positions in advance of potential surprises in the post-meeting statement. The last three Decembers brought rate hikes from the central bank, something that certainly won’t happen this year.

The other precious metals were mixed, with silver and palladium adding 0.3% and 0.6%, respectively, while platinum edged down slightly.

At the Comex close: February gold dipped 20 cents to $1,464.90; March rose a nickel to $16.64; January platinum slipped 40 cents to $898.50; and March palladium picked up $10.50 to $1,856.60 an ounce.