Gold is poised for a fourth monthly decline as investors weigh the outlook for global growth amid the escalating U.S.-China trade spat and seek out other havens such as the dollar and bonds. Platinum is heading for the biggest monthly drop in more than three years.
Morgan Stanley Chief Executive Officer James Gorman said financial markets are fragile thanks to worries over the trade war, but a rout isn't likely given the solid state of the economy and the probability that U.S.-China talks resume.
Spot gold -0.1% to $1,278.76/oz at 9:27am in Singapore; -0.4% in May. Meanwhile, Spot silver -0.3%; down for a fourth month, Gold-Silver Ratio at 26-Year High Sends Out Economic Warning. Platinum -11% in May to head for biggest monthly drop since Nov. 2015, Palladium -3.3% in May.
Source : Bloomberg