Gold slides to seven-month lows as dollar climbs
Gold prices are down about 9 percent since mid-April. Tensions between the United States and China eased after U.S. Treasury Secretary Steven Mnuchin said on Thursday talks between the world`s two largest economies could be reopened if Beijing was willing to make significant changes.
A rising U.S. currency makes dollar-denominated gold more expensive for holders of other currencies, which potentially weighs on demand. Image source: Reuters