On Thursday, December 12, gold depreciated 1.22% or 1786 pips against the US Dollar.
The drop was driven by an announcement made by the US President Donald Trump via Twitter. Trump wrote that the US and China were getting "very close" to reach agreement on trade tensions.
The US-China trade war began in January 2018. Currently, the US applied tariffs on the Chinese goods worth $550B. China responded with tariffs on $185B worth of the US products.