Gold established a foothold above $1,500 an ounce as investors positioned for 2020, with bullion’s gains coming even as equities inched higher after the Christmas break and U.S.-China trade concerns eased. Silver rose.
President Donald Trump said Tuesday the deal with China is “done” and there will be a signing ceremony. The Asian nation’s imports of U.S. soybeans rose to the highest in 20 months in November as more cargoes cleared customs. While a number of markets are still closed for Boxing Day, the MSCI Asia Pacific Index and U.S. futures rose. Yields on 10-year Treasuries climbed to 1.91%.
Spot gold as much as +0.3% to $1,503.68/oz, highest intraday price since Nov. 5, and trades at $1,503.48 at 10:29am in Singapore. Prices +17% YTD. Bloomberg Dollar Spot Index slipped.