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Gold Resumes Rally to Start Week, Adds to Move Above $1,500, as Stocks Slide Amid Global Anxieties


Tuesday, 13 August 2019 01:31 WIB

GOLDEMAS


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Gold futures finished higher on Monday as geopolitical fears drove investors to the perceived safety of so-called havens including bonds and gold.

December gold added $8.70, or 0.6%, to settle at $1,517.20 an ounce to start the week. Meanwhile, the 10-year Treasury note fell below 1.66%, on the verge of a new 52-week low for the government debt.

Bond prices rise as yields fall. Part of the impetus for haven buying was fears about U.S.-China trade tensions and escalating tensions in Hong Kong. Chinese authorities condemned weekend protests as "the first signs of terrorism" and vowed a crackdown on demonstrators. Authorities canceled outgoing flights from the city's airport after it was thronged by protesters. Gold tends to rally in an environment of global tensions, with the Dow Jones Industrial Average and the S&P 500 index falling as precious metals and sovereign paper rise.

Source : Marketwatch


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