Gold holds firm

Gold prices yesterday held on to the previous session’s gains, as fading hopes for progress in US — China trade talks hit risk appetite, while markets also awaited clues on monetary easing by the US Federal Reserve.

Spot gold rose 0,4 percent to $1 510,50 per ounce as of 0723 GMT, and stood its ground above $1 500 after jumping as much as 1 percent in the previous session. US gold futures gained 0.8 percent to $1 516,20 per ounce.

“The market is holding back, and looking at what’s going to happen in the US – China trade talks today . . . If the trade dispute turns worse, we are going to expect some strong risk-off trade,” said Phillip Futures analyst Benjamin Lu. — Reuters.

Source :

Check Also

Zimbabwe: Young Women Rallied to Participate in Economy

By Rumbidzayi Zinyuke First Lady Amai Auxillia Mnangagwa has challenged young women to actively participate …

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This function has been disabled for Zimbabwe Today.