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Gold Rebounds Amid Hong Kong Unrest; Palladium Drops


Monday, 11 November 2019 21:44 WIB

GOLDEMAS


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Gold advanced after its biggest weekly drop in three years as investors weigh the latest developments in U.S.-China trade talks and escalating unrest in Hong Kong. Palladium fell to a one-month low.

President Donald Trump said Saturday trade talks with China are moving along “very nicely,” and said the leaders in Beijing wanted a deal “much more than I do.” Citywide protests in Hong Kong that saw a demonstrator shot helped support demand for haven assets after last week’s sell-off.

Palladium remained under pressure, as its major consumer, China’s auto sector, reported a year-on-year decline in sales in October.

Spot gold gained as much as 0.5% to $1,466.24/oz after dropping 3.7% last week to a three-month low.

Source : Bloomberg


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