MTECHTIPS:-Gold Prices Dip On Firmer Dollar As North Korea-U.S. Tensions Ease

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MTECHTIPS:-Gold Prices Dip On Firmer Dollar As North Korea-U.S. Tensions Ease

MTECHTIPS- Gold prices extended losses on Friday as the dollar strengthened on news that North Korean leader Kim Jong-un pledged to suspend nuclear and missile testing, and that he would arrange a meeting with U.S. president Donald Trump by May. Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell by $3.60, or 0.27%, to $1,318.20 a troy ounce by 12:48 am ET. Gold prices are on track to post their third weekly loss. The dollar regained momentum with the U.S. dollar index breaking 90 on Friday in Asia following news that North Korea’s leader Kim Jong-un may be willing to meet with Trump. The U.S. dollar index that tracks the greenback against a basket of currencies gained 0.09% to reach 90.19 after a mid-week plunge caused by Trump’s plan to impose tariffs on steel and aluminum imports. Earlier in the morning in Asia, the dollar index reached this week’s high at 90.27. The dollar’s momentum was also fuelled by news that Trump pressed ahead with tariffs but offered conditional exemptions for Canada and Mexico, a signal that a full-blown global trade war may be avoided