Tuesday, 15 October 2019 03:33 WIB |
PRECIOUS METALS |EMASGOLD
What™s bad for trade is good for gold. The yellow metal found favor again with haven investors on Monday, flirting with the key bullish level of $1,500 per ounce, on news of fresh troubles in U.S.-China trade negotiations.
Gold rebounded after a Bloomberg report that China had more demands from the Trump Administration over tariffs and wanted more talks to reach a trade deal. The Chinese stance appeared to contradict the U.S. president™s contention on Friday that the two sides were closer to an agreement.
U.S. gold futures for December delivery settled up $8.90, or 0.6%, at $1,497.60 per ounce, after scaling $1,500 in intraday trade to reach a session high of $1,501.35.
Spot gold was up $3.16, or 0.2%, at $1,491.90 by 3:12 PM ET (19:12 GMT) after reaching as high as $1,497.12 in intraday trade.
Source : Investing.com