Gold Heads for Back-to-Back Decline After Trump, Iran Eschew War
Thursday, 9 January 2020 15:14 WIB | PRECIOUS METALS |EMASGOLD

Gold headed for the first back-to-back decline since November as the U.S. and Iran stepped back from a deeper military conflict, blunting the appeal of haven assets as global equities gained ground. Palladium motored to yet another record, extending a meteoric rally.

Bullion headed lower after a retaliatory Iranian missile attack on two U.S. bases in Iraq on Wednesday caused no casualties, allowing President Donald Trump an opportunity to stand down from what had looked like an escalation toward a Mideast war. Stocks in Asia extended a rally that began in America.

Spot bullion fell as much as 1% to $1,540.33 an ounce, and traded at $1,545.07 at 7:00 a.m. in London. Prices -- which had rallied to $1,611.42 as news of the the Iranian attack first broke, the highest level since 2013 -- haven™t seen a consecutive daily loss since Nov. 25.

Source : Bloomberg

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