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Gold prices inch up as investors look for bargains


Thursday, 27 September 2018 08:44 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices edged up early on Thursday, supported as investors looked for bargains after the metal fell to a two-week low in the previous session following a U.S. interest rate hike.

Spot gold had risen 0.2 percent to $1,196.21 as of 00:57 GMT. On Wednesday, the metal touched its lowest since Sept. 11 at $1,190.93 an ounce.

U.S. gold futures were up 0.1 percent at $1,200.40 an ounce.

Gold is sensitive to higher interest rates because they tend to boost the dollar, making bullion more expensive for buyers with other currencies.

China on Wednesday unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on Nov. 1, as the country braces for an escalating trade war with the United States.

U.S. President Donald Trump on Wednesday accused China of seeking to meddle in the Nov. 6 U.S. congressional elections, saying Beijing did not want his Republican Party to do well because of his pugnacious stance on trade.

Source: Reuters


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