Gold Set for Monthly Decline Despite Boost from Hong Kong Tensions

Friday, 29 November 2019 15:57 WIB



Gold prices are on course for a monthly decline, even after tensions between the U.S. and China over Hong Kong gave them a boost in recent days.

The precious metal is up 0.3% at $1,464.50 a troy ounce, trimming its decline for November to 3.3%. Silver and platinum have also fallen, although palladium continues to surge.

Progress toward a trade agreement has prompted investors to move out of haven assets, weighing on precious metals. Officials in Washington and Beijing remain confident they can sign a partial deal in the coming weeks, WSJ reports, after President Trump signed a bill supporting Hong Kong protesters. In mining, Barrick Gold completed the sale of its 50% stake in Kalgoorlie Consolidated Gold Mines to Saracen Mineral Holdings.

Source : Bloomberg


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