Gold dips as U.S.-China trade war fears props up dollar ( 100% SURE MCX HNI CALLS) WWW.TRADEMAXINDIA.COM CALL@ (8218997961/8218995526)

LIVE GOLD UPDATE ::

Gold prices edged lower on Tuesday as the U.S. dollar firmed on renewed fears of an intensification in the Sino-U.S. trade war and worries over slowing global economic growth.

Investors took cover in the greenback after Bloomberg reported that Washington is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between U.S. President Donald Trump and Chinese President Xi Jinping fail to ease the trade war. USD/

A stronger dollar makes bullion more expensive for holders of other currencies.

Spot gold XAU= was down 0.2 percent at $1,227.17 an ounce at 0657 GMT. U.S. gold futures GCcv1 were up 0.1 percent at $1,228.90 an ounce.

“There is a little bit of pressure from the dollar for now. But, overall gold prices look fundamentally supported. Market sentiment is still very cautious. We feel upside potential for gold at $1,255 is highly possible,” said Benjamin Lu, a commodities analyst with Phillip Futures.

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TECHNICAL DEPARTMENT

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