WASHINGTON (dpa-AFX) - Gold prices eased on Thursday and held below the $1,490 an ounce level after the U.K. and EU announced that they have agreed on a deal for Britain's exit from the EU.
EU Commission President Jean-Claude Juncker said in a letter that member nations should back the Brexit deal and that the 27 member states are 'best served by an orderly and amicable withdrawal of the United Kingdom from our Union.'
Spot gold slipped 0.2 percent to $1,486.98 per ounce while U.S. gold futures declined 0.3 percent to $$1,489.95.
The British pound soared to a seven-month high after Prime Minister Boris Johnson secured a Brexit deal with the EU following days of intense see-saw negotiations.
The new deal sees Northern Ireland remain in the customs union with the EU, while the rest of the U.K. would leave.
U.S.-China trade worries also eased after China said it hoped to reach a phased trade agreement in a protracted dispute with the United States.
China's Commerce Ministry said today it is hoping to reach a phased agreement with the United States over trade as early as possible, and make progress on cancelling tariffs on each others' goods.
A phased agreement would help restore market confidence and reduce uncertainty, the ministry's spokesman Gao Feng told reporters.
Copyright RTT News/dpa-AFX