Will Bitcoin Follow Gold Prices Down as Trade Tensions Ease?

Trade tensions between the US and China appear to be easing as the two powerhouses come to agreement. The lifting of tariffs is good for economic stimulus but safe have assets such as gold are now starting to cool off, will Bitcoin follow suit?

US China Trade War Over?

Officials from both sides stated yesterday that tariffs could be rolled back as part of the first phase of a wider deal. Reuters reported that a timetable has yet to be set but both China and the US are in agreement that a trade deal can be made.

Experts have warned that there is still a lot of work to be done and the situation is fragile and can fall apart quickly. Optimism has returned to markets on the development as global stocks were boosted yesterday.

Not all assets have benefited from the easing of trade tensions however. Gold, after hitting a six year high in September has retreated. The safe haven narrative only appears to apply when economic pressures are escalated. Gold prices have retreated 5.3% since this…