Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment proceedings pricked the prospective U.S.-China trade bubble.
Both bullion and futures of gold recovered from their Friday dip to attempt a return to the $1,480 mark and the bigger $1,500 target as a risk-off mode prevailed across markets. Wall Street indices, however, set new highs after the Trump administration granted a 90-day extension for U.S....
President Donald Trump is warning China to sign on the dotted line by Dec. 15 and the gold market is listening more than ever.
As hedge to the world™s financial and political woes, the yellow metal has been recovering from last week™s battering on suggestions over the past two days that China may not come to the table on a trade deal with the White House, as it tries to wait out Trump™s impeachment inquiry proceedings in the U.S. Congress.
Gold futures for December delivery on New...
Hong Kong stocks rose more than one percent Monday, staging a rebound after losing around five percent last week, with trade optimism trumping worries about violent protests in the city.
The Hang Seng index jumped 1.35 percent, or 354.43 points, to 26,681.09.
The benchmark Shanghai Composite Index rose 0.62 percent, or 17.86 points, to 2,909.20, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.72 percent, or 11.49 points, to 1,617.19.
Source : AFP
The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.
The report, which cited government sources, said the bleak outlook was due to U.S. President Donald Trump™s reluctance to roll back tariffs. China has been pushing for the two sides to remove tariffs as they work on a phase one trade deal. Trump has said that he has not agreed to end tariffs, causing uncertainty on whether or not there will be a deal. Since then, both...
Gold declines after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in holdings in bullion-backed exchange-traded funds.
Spot gold -0.2% to $1,465.50/oz at 7:01am in London; +0.6% last week. Bloomberg Dollar Spot Index flat after -0.2% last week.
U.S. and Chinese negotiators held œconstructive discussions in a call on Saturday to address each side™s core concerns in phase one of a deal....