Head Topics

Gold dips slightly on geo-political risks and US-China trade war

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

South Africa Headlines News

However, spot gold is still close to its six-year high; silver is up 0.5%, platinum 1.8%, but palladium is down 0.1%

Bengaluru — Gold dipped on Wednesday as investors booked profits after a 1% jump in the previous session and as political risks in Europe and Asia receded, but concerns over the global economy and the China-US trade war kept bullion close to a six-year peak.

“Gold’s downside is limited in the short term because of the political uncertainties, particularly on the trade-war front, and also the large volume of negative yielding government debts, making gold relatively attractive.” On the trade front, US President Donald Trump threatened on Tuesday that he would be “tougher” on Beijing in a second term as president if talks dragged on. With no agreement on the dispute, investors remain nervous, said Michael McCarthy, chief market strategist at CMC Markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global sticks slip on US-China trade tensionsInvestors seek refuge in safe havens of gold, the yen and government debt, with sterling near a three-year low amid Brexit showdown
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil is mixed as focus remains on US-China trade warSoft data from Asia add to concerns over emerging markets and a rise in Opec production
Source: BDliveSA - 🏆 12. / 63 Read more »

Gold weakens on robust dollarSpot gold falls 0.5% but still not far off its highest level in six years it hit last week
Source: BDliveSA - 🏆 12. / 63 Read more »

Solid gold price, weak rand sees investors flock to Krugerrands
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Builder's wife dreamt he was showered in gold - then he won R141m PowerBall jackpotA few weeks before they went on a holiday road trip, a woman dreamt that she saw gold particles being sprinkled all over her husband. Her premonition came true when he won the R141m PowerBall jackpot.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Gold stays near six-year high on global political uncertaintyThe dollar hit a more than two-year high against major currencies, making dollar-denominated gold costlier for investors holding other currencies
Source: BDliveSA - 🏆 12. / 63 Read more »