Gold futures ended with a modest loss on Wednesday, lacking support as some equities markets in Asia and the U.S. climbed and while commodities traders weighed the potential economic impact of an outbreak of a serious virus in China.
Gold for February delivery on Comex lost $1.20, or 0.08%, to settle at $1,556.70 an ounce, while March silver added 2 cents, or 0.1%, to $17.828 an ounce following a 1.5% loss Tuesday.
In other metals trading, March palladium rose 4.6% to $2,335.60 an ounce,...
Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal.
"Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China," said Lukman Otunuga, senior research analyst at FXTM. "The general uncertainty is likely to accelerate the flight to safety with gold seen testing...
Gold prices were little changed on Wednesday as technical support on expected dovish monetary policy from central banks offset revived appetite for riskier assets and an upbeat dollar.
Spot gold was down 0.1% at $1,555.73 an ounce at 13:22 GMT. U.S. gold futures dipped 0.2% to $1,555.50.
Investors will keep a close eye on the European Central Bank™s first policy meeting of the year on Thursday, while the Fed™s first meeting is scheduled for Jan. 28-29.
Lower interest rates reduce the...
Hong Kong shares recovered some of the previous day's sharp losses on bargain-buying Wednesday but traders remain on edge as they await developments linked to the deadly SARS -like virus that has spread from China.
The Hang Seng index climbed 1.27 percent, or 355.71 points, to close at 28,341.04.
The benchmark Shanghai Composite Index rose 0.28 percent, or 8.61 points, to 3,060.75 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.72 percent, or 13.07...
Hong Kong equities closed sharply lower on Thursday as investors took flight over the deadly SARS -like virus that has spread from China.
The Hang Seng Index fell 1.52 percent, or 431.92 points, to end at 27,909.12.
The benchmark Shanghai Composite Index losing 2.75 percent, or 84.23 points, to close at 2,976.53, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 3.45 percent, or 62.79 points, to 1,756.82 at the finish.
Source : AFP