Last week, the price of gold again fell below $ 1,500 per ounce. On the Forex market, precious metals traded at around $ 1,488 (1,348 euros). The main factor in the pressure on gold was the news of the rapprochement between the United States and China on mutual trade.

The other day, a meeting of representatives of China and the USA took place in Washington to further discuss trade relations. The meeting resulted in the signing of a partial agreement. Another pressure factor on the gold market was Brexit news. Most likely, Boris Johnson will have to come to terms with the fact that even after Britain leaves the EU, there will be no customs control with continental Europe. Negotiations on this and other issues are ongoing.

Currently, the gold market is under pressure due to the positive prospects in negotiations between the US and China, as well as in connection with the positive dynamics for Brexit. Therefore, the correction in the gold market may continue, and the stock market, on the contrary, will receive support for growth. On the other hand, negative market data on the European economy, particularly in Germany, and in the financial sector as a whole, including the redemption of government bonds by the Fed at $ 60 billion per month, have faded into the background and cannot give an impetus to the gold market to continue growth.

After months of rising gold prices, investors again had a great opportunity to increase their position in precious metals, which are trading below $ 1,500 an ounce. Sooner or later, the crisis will again make itself felt, which means the price of gold will rise again.

After Donald Trump deals with China, he will most likely deal with the European Union. The Brexit situation is still in limbo. In addition, the global economy is experiencing growth problems. Bilateral trade agreements only contribute to the distribution of demand. If China buys billions of dollars of US agricultural products, farmers in other countries will lose an important market. However, another tweet from Trump can fundamentally change the situation.