🏃 Grab this Black Friday offer early. Get up to 55% off InvestingPro now!CLAIM SALE

PRECIOUS-Gold hovers near 1-month peak as trade concerns linger

Published 12/04/2019, 10:21 AM
Updated 12/04/2019, 10:24 AM
© Reuters.  PRECIOUS-Gold hovers near 1-month peak as trade concerns linger
XAU/USD
-
XAG/USD
-
GC
-
SI
-
CEY
-
XPD/USD
-

Dec 4 (Reuters) - Gold was little changed on Wednesday, but
hovered near a one-month peak hit in the previous session, with
bullion prices moderately supported after Washington dashed
hopes for a quick preliminary trade deal with Beijing.

FUNDAMENTALS
* Spot gold XAU= was little changed at $1,476.55 per
ounce, as of 0143 GMT. In the previous session, prices rose 1%
and touched their highest since Nov. 7.
* U.S. gold futures GCcv1 were down 0.1% at $1,483.10.
* U.S. President Donald Trump on Tuesday said a trade deal
with China might have to wait until after the U.S. presidential
election in November 2020, having earlier announcing tariffs on
U.S. steel and aluminum imports from Brazil and Argentina on
Monday. * U.S. Commerce Secretary Wilbur Ross rejected any deadlines
on a trade deal with China and launched a fresh attack on
telecoms giant Huawei HWT.UL . * Asian shares extended their losses, while the dollar
weakened after market hopes for a preliminary agreement faded.
MKTS/GLOB USD/
* Heightening tensions with Beijing, the U.S. House of
Representatives overwhelmingly backed legislation that would
require the Trump administration to toughen its response to
China's crackdown on its Uighur Muslim minority. * Trump and French leader Emmanuel Macron clashed over the
future of NATO before a summit intended to celebrate the 70th
anniversary of the Western military alliance. * Gold miner Centamin Plc CEY.L rejected a 1.47 billion
pound ($1.9 billion) all-stock takeover proposal from Canada's
Endeavour Mining. * The Perth Mint's gold product sales in November rose to
their highest in a year, while silver sales dropped from a
multi-year peak, the refiner said. * India's gold imports in November jumped 78% from a month
earlier to the highest level in five months as jewellers in the
world's second-biggest market for the metal restocked after a
fall in prices, a government source said. * Palladium XPD= fell 0.2% to $1,852.14 per ounce. Silver
XAG= shed 0.1% to $17.14 per ounce, while platinum XPT= was
down 0.2% at $907.47.

DATA/EVENTS (GMT)
0500 India IHS Markit Svcs PMI Nov
0850 France Markit Serv, Comp PMIs Nov
0855 Germany Markit Srvices PMI Nov
0855 Germany Markit Comp Final PMI Nov
0900 EU Markit Serv, Comp Final PMIs Nov
0930 UK Reserve Assets Total Nov
1445 US Markit Svcs, Comp Final PMIs Nov

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.