Gold Holds Gain as ETF Holdings Register Another Surge
Tuesday, 24 September 2019 09:34 WIB | PRECIOUS METALS |GOLDEMAS

Gold held an advance as investors weighed sustained inflows into bullion-backed funds, mixed global economic data, and comments from Federal Reserve officials. Palladium traded near a record.

Data on Monday showed Germany™s economy is suffering its worst downturn in almost seven years, adding to concerns about a slowdown. In the U.S., while a gauge of employment in service industries pointed to job losses for the first time in almost a decade, a manufacturing index advanced to a five-month high.

Markets are also focused on next month™s planned high-level trade talks between the U.S. and China, as well as any action or messaging from the world™s major central banks. Fed Bank of St. Louis President James Bullard said further easing may be needed to offset downside risks.

Spot gold -0.1% at $1,520.33/oz at 10:19am in Singapore; +0.4% Monday and +1.9% last week.

Source : Bloomberg


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