Gold futures ended with a loss on Monday, with strength in the dollar putting pressure on the dollar-denominated precious metal.
The greenback found support as the British pound touched a 20-month low after a highly anticipated vote on U.K.'s exit from the European Union was postponed. February gold fell $3.20, or 0.3%, to settle at $1,249.40 an ounce. Prices had finished Friday at their highest since July.
Source : Marketwatch
Wall Street and Main Street both look for gold to build on last week's move higher during the this week, based on the Kitco News gold survey.
Observers suggested Friday's softer-than-forecast report on U.S. nonfarm payrolls will continue to offer support to the precious metal. The Labor Department reported that 155,000 new nonfarm jobs were created last month, when expectations had been for around 190,000 to 200,000. Still, the jobless rate remained at a 49-year low of 3.7%.
Hong Kong shares opened with more losses Monday, tracking a sell-off on Wall Street fuelled by lingering concerns about the China-US trade standoff, while traders were also spooked by worse-than-forecast Chinese trade data.
The Hang Seng Index fell 1.03 percent, or 268.81 points, to 25,794.95.
And the benchmark Shanghai Composite Index declined 0.64 percent, or 16.69 points, to 2,589.19, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.83 percent,...
Tokyo stocks opened sharply lower on Monday, taking a negative lead from New York where unease over the US-China trade war prompted a fresh sell-off late last week.
The benchmark Nikkei 225 index was down 1.66 per cent or 359.20 points at 21,319.48 in early trade, while the broader Topix index was down 1.45 per cent or 23.47 points at 1,596.98.
Source : AFP
Gold traded at the highest level in five months amid a retreatin Asian equities and U.S. stock futures on the potential escalation of tensions between Washington and Beijing.
Haven assets are rising after China's vice foreign minister summoned the U.S. ambassador Terry Branstad in protest over the arrest of Huawei Technologies Co.'s chief financial officer, and amid concerns over China's slowing economy.
Traders are also assessing if the Federal Reserve will pursue a...