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Gold Prices Steady as Concerns on Recession, Trade War Linger


Thursday, 29 August 2019 13:17 WIB

GOLDEMAS


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Gold prices steadied on Thursday in Asia as equities traded lower on lingering concerns of a potential recession and developments on the Sino-U.S. trade front.

Gold Futures for December delivery on the Comex division of the New York Mercantile Exchange climbed 0.2% to $1,551.35 a troy ounce by 1:20 AM ET (05:20 GMT).

On Wednesday, a closely watched yield curve inverted and sparked fears of a potential recession. The inversion is often considered a negative sign for the economy as every recession in the last 50 years has been preceded by it.

Global stock markets fell amid the phenomenon, while gold, which usually become more attractive amid falling yields, rose.

Source : Investing.com


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