Gold Holds Gain as ETF Holdings Register Another Surge

Tuesday, 24 September 2019 17:44 WIB



Gold held an advance as investors weighed sustained inflows into bullion-backed funds, mixed global economic data and next steps in U.S.-China talks.

Gold holdings in ETFs have been rising every day since last week, moving closer to an all-time high seen in 2012, which helped the prices to recover above $1,520 an ounce. Total value of holdings has increased by more than a third so far this year to $122 billion.

The metal was little changed on Tuesday after three days of advances as further gains were partially capped by investors' optimism over high-level trade negotiations between Washington and Beijing early next month. Silver traded near a three-week high, while palladium held close to record after rallying on Monday.

Spot gold declined less than 0.1% at $1,521.91/oz at 11:30am in London after gaining 0.4% Monday.

Spot silver was down 0.3% at $18.5845/oz, after jumping 3.6% Monday.

Palladium advanced 0.3% to $1,659.88/oz after hitting a record $1,666.16 Monday; platinum was little changed.

Source : Bloomberg


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