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Gold Holds Gain as Trade in Focus; Palladium at Record


Monday, 23 September 2019 15:24 WIB

GOLDEMAS


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Gold held an advance as investors monitored signs of progress in U.S.-China trade discussions. Palladium hit a fresh all-time high.

China's Ministry of Commerce said trade groups from the two nations held "constructive" talks in Washington last week. China's cancellation of a planned visit to farms in the American heartland was done at the request of the U.S., people familiar with the matter said, indicating it wasn't caused by a negative turn in the lower-level discussions held in Washington last week. Still, prices are steady after capping the biggest weekly gain since August as mounting economic headwinds and monetary easing stayed in focus, following the Federal Reserve's second interest-rate cut of 2019.

Palladium is extending its rally, driven by supply issues, falling U.S. borrowing costs, and on anticipation that trade tensions may ease between the U.S. and China, the two major markets for the metal largely used to reduce auto emissions.

Spot gold -0.1% to $1,515.45/oz at 6:48am in London; +1.2% Friday. Prices +1.9% last week.

Palladium as much as 1.4% to all-time high of $1,665.32/oz.

Source : Bloomberg


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