LONDON: Gold prices fell on Wednesday as fresh optimism that the US-China trade dispute could soon end lifted equity markets, pressuring bullion ahead of a US Federal Reserve policy decision later in the day.

Spot gold dipped 0.2 per cent to $1,342.86 per ounce as of 1247 GMT. US gold futures slipped 0.3pc to $1,346.40 per ounce.

“Donald Trump’s tweet that he will meet (Chinese President) Xi Jinping has created speculation in the market that there might be some solution on the trade war,” said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares & Stock Brokers.

Silver dipped 0.2pc to $14.97 per ounce, while platinum inched 0.5pc higher to $803.53. Palladium gained 0.9pc to $1,493.90 per ounce, having hit its highest since March 27 at $1,496.51 earlier in the session.

Published in Dawn, June 20th, 2019