Gold, Silver at Six-Week Highs on U.S. Data, Trade
Tuesday, 24 December 2019 16:55 WIB |
PRECIOUS METALS |SILVEREMASGOLD
Gold extended gains ahead of the Christmas break to hit a six-week high, supported by weak U.S. economic data and lingering concerns over the U.S.-China trade deal.
Spot prices topped $1,490 an ounce for the first time since early November, as an unexpected drop in U.S. durable goods orders overshadowed advancing new home sales. Silver also advanced, rising for a fifth day, with both metals now trading back above their 50-day moving average.
Continuing protests in Hong Kong and possible tensions between China and the U.S. over the situation in that region are also adding to investors' concerns, supporting haven buying.
Spot gold advanced for a second day, adding 0.4% to $1,491.73/oz by 9:40am in London. Spot silver rose as much as 1.1% to $17.6511, the highest since Nov. 7.
Source : Bloomberg