Gold Rises Friday and Set for Weekly Gain as Investors Await President Trump Statement on China
Friday, 29 May 2020 19:45 WIB |
PRECIOUS METALS |GOLDEMAS
Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and global monetary stimulus measures.
President Donald Trump said that he was preparing to hold a Friday news conference on China but hasn't set a specific time. His planned remarks would come after the U.S., Australia, Canada and the U.K. governments issued a joint statement Thursday reiterating their "deep concern regarding Beijing's decision to impose a national security law on Hong Kong, after China's parliament, the National People's Congress passed legislation Thursday that could greatly curtail democratic freedoms.
August gold rose $14.20, or 0.8%, to $1,742.70 an ounce, after climbing a mere 0.1% on Thursday. Meanwhile, July silver picked up 31 cents, or 1.7%, to trade at $18.270 an ounce, retaking a psychologically significant level above $18.
For the week, gold was up about 0.4%, while silver was headed for a weekly gain of about 3.3%, according to FactSet data based on the most-active contracts.
Source : Marketwatch