Gold recovers most of Tuesday’s losses as U.S.-China trade tensions climbed and global growth concerns escalated, as investors continue to seek haven assets.
Spot gold +0.3% to $1,283.03/oz; -0.5% on Tuesday. Bloomberg Dollar Spot Index +0.2%; heads for a fourth straight monthly gain.
The metal has missed out on some haven buying in recent days, with investors favoring the dollar and bonds. Gold is on pace for its fourth monthly decline.
Haven buying drove the 10-year Treasury yield to the lowest since September 2017 after comments from President Donald Trump further dimmed the prospects of a deal with Beijing. The bond rally further in.
Source : Bloomberg