MTECHTIPS;-Gold prices slip as trade euphoria lifts risk appetite

MTECHTIPS;-Gold prices slip as trade euphoria lifts risk appetite

MTECHTIPS-Gold prices fell on Friday after sources said Washington and Beijing had reached an interim trade deal and averted a fresh round of U.S. tariffs, boosting appetite for riskier assets. FUNDAMENTALS * Spot gold XAU= was down 0.2% at $1,466.35 per ounce, as of 0051 GMT, but was on track to post a weekly gain. * In the previous session, gold prices hit their highest in over a month, driven by trade uncertainties ahead of a Dec. 15 deadline, when U.S. tariffs on Chinese goods were initially expected to kick in. * U.S. gold futures GCv1 were also down 0.2% at $1,469.60. * A wave of trade relief lifted global equities following reports that the United States has agreed to reduce some tariffs and delay a tranche of tariffs as part of a "phase-one" deal. Asian markets also jumped on reports that Prime Minister Boris Johnson's Conservative Party looked to have won a clear majority in UK elections. MKTS/GLOB World stocks hit a record high on Thursday, passing an all-time peak set in early 2018, on respite over a prolonged trade war. Christine Lagarde struck a more upbeat tone on the economy in her first news conference as head of the European Central Bank on Thursday and promised a new style of leadership as she outlined a sweeping one-year review of the bank's workings. Palladium XPD= hit a record peak of $1,964.56 an ounce on supply crunch, and was last up 0.5% at $1,949.30. The metal was poised to register a fourth weekly gain.* The autocatalyst metal had breached the $1,900 level for the first time 

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