PRESS ROOM
Cautious optimism on the US-China trade front
Tuesday 15th October '19
Encouraging news emerged last week as President Trump announced a ‘Phase 1’ trade deal between US and China in which the US would suspend planned tariff increases on October 15 in return for increased agricultural purchases from China, along with agreements on protection of intellectual property, access for financial services firms and currency pledges. This was moderately supportive of risk assets including equities and industrial metals. Gold, as a historically safe haven asset, remains in favour and is hovering around USD1500/oz as trade related risks are still far from resolved.