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Gold Rises to One-Week Peak Amid Trade Anxiety


Thursday, 10 October 2019 17:49 WIB

GOLDEMAS


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Gold prices scaled one-week highs on Thursday, holding ground above $1,500 an ounce, as investors flocked to the safety of bullion following contradictory reports about U.S.-China trade talks.

Spot gold gained 0.1% to $1,506.78 per ounce as of 0724 GMT, having notched a peak of $1,516.77 early in the session, its highest since Oct. 3. U.S. gold futures dropped 0.1% to $1,511.80.

“Gold is holding strong above $1,500 because of healthy inflows by ETFs (exchange-traded funds). If the U.S.-China trade talks fail once again, gold prices could rally,” said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares & Stock Brokers.

Source : Reuters


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