Gold gains as renewed global trade worries boost safe haven sentiment
Wednesday, 3 July 2019 13:52 WIB | PRECIOUS METALS |GOLDEMAS Spot EmasSILVER

Gold prices climbed over 1% on Wednesday, driven by strong safe haven sentiment as hopes of a quick end to the U.S.-China trade row faded and a new trade front in Europe deepened concerns over tepid economic growth.

Spot gold was up 0.7% at $1,427.64 per ounce at 04:38 GMT, after earlier touching a one-week high of $1,435.99.U.S. gold futures were up 1.6% to $1,430.80 an ounce.

Extended weakness in global manufacturing data and U.S. trade protectionism looked poised to support bullion™s appeal as investors avoided riskier assets, said Benjamin Lu, an analyst with Phillip Futures.

Meanwhile, Silver was flat at $15.31 per ounce. Platinum fell 0.2% to $826.15 per ounce, while palladium rose 0.1% to $1,559.45 per ounce, having touched an over three-month peak earlier in the session.

Source : Reuters

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