Investing.com - Gold prices slipped below the $1,500 level on Tuesday in Asia as U.S. President Donald Trump said signing of a partial deal might be “ahead of schedule.”
U.S. Gold Futures for December delivery slipped 0.1% to $1,494.35 per ounce by 1:28 AM ET (05:28 GMT).
U.S. stocks closed higher overnight while Asian stocks traded mostly in the green on Tuesday after Trump said a partial trade deal between Beijing and Washington could be reached in the near future.
"We are looking probably to be ahead of schedule to sign a very big portion of the China deal, we'll call it Phase One but it's a very big portion," Trump told reporters on Monday, without giving a date.
Markets now look ahead to Wednesday’s key interest rate decision from the U.S. Federal Reserve. The Fed is expected to deliver a third rate cut for 2019. While another round of U.S. easing is expected, gold could take an even bigger hit if the Fed decides to leave rates unchanged this week.
Analysts will also be watching the Bank of Japan’s policy decision on Thursday. The decision to unleash more stimulus or keep policy steady will be a close call, analysts said.