2019.09.0506:55:00UTC+00Gold Slips On Improved Risk Appetite

Gold prices eased on Thursday as easing political concerns and expectations of further easing measures by central banks helped lift investors' appetite for riskier assets.

Spot gold dropped 0.7 percent to $1,541.52 per ounce after hitting as high as $1,557 on Wednesday, the highest level since April 2013. U.S. gold futures were down 0.65 percent at $1,549.84 per ounce.

The European Central Bank is expected to cut deposit rate and restart its asset purchase program when it meets next week.

On the trade front, the United States and China have agreed to hold trade talks in Washington early next month in a bid to ease tensions in their rapidly escalating trade war.

Elsewhere, Hong Kong's leader today urged pro-democracy protesters to end their demonstrations after scrapping a hugely unpopular extradition law.

Lam insists the decision to withdraw the extradition bill was made by her and her government, not the central Chinese government in Beijing.