Haven gold pushed higher again Monday to tally its best finish in about a month, as financial markets kept attention fixed on global growth fears and as a recessionary alarm persisted in the bond market.
Bonds rose on Monday after Friday™s action marked the first U.S. Treasury yield curve inversion since 2007, feeding concerns around this oft-referenced recession signal. As such, U.S. stocks moved lower in Monday dealings as gold futures settled.
Gold for April delivery on Comex rose...
Gold futures on Tuesday settled in negative territory, giving back the bulk of gains from a day earlier that landed the metal at its highest finish in about a month. Stocks and other assets perceived as risky regained some footing higher on the session, dulling the appeal of the haven metal.
April gold on Comex declined by $7.60, or 0.6%, to settle at $1,315 an ounce. The contract rose 0.8% Monday to finish at $1,322.60 ” the loftiest close for a most-active contract since Feb. 26,...
Tokyo stocks opened higher Tuesday on bargain-hunting following a three-percent plunge the previous day, but investors remained cautious on signs of a possible global economic slowdown.
The benchmark Nikkei 225 index rose 0.94 percent, or 197.23 points, to 21,174.34 in early trade while the broader Topix index was up 0.92 percent, or 14.59 points, at 1,592.00.
Source : AFP
Gold prices traded lower on Tuesday in Asia after hitting a one-month high the previous day.
Gold Futures traded on the Comex division of the New York Mercantile Exchange was down $5.05, or 0.4%, at $1,323.95 per ounce by 1:40 AM ET (05:40 GMT).
The fall in gold prices today came as stock markets and other risky assets recovered from a tumble on Monday.
The precious metal received support the previous day after the spreads between U.S. three-month and 10-year Treasury yields modestly...
Hong Kong and mainland Chinese stocks tumbled more than two percent Monday, in line with a sell-off across Asian markets fuelled by concerns about the global economy.
The Hang Seng Index dropped 2.03 percent, or 590.01 points, to close at 28,523.35.
The benchmark Shanghai Composite Index sank 1.97 percent, or 61.12 points, to 3,043.03 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, shed 1.44 percent, or 24.51 points, to 1,676.43.
Source : AFP