Gold firmed up a foothold above $1,500 an ounce as investors positioned for 2020, with post-Christmas gains coming even as equities inched higher and U.S.-China trade concerns eased. Silver rose along with platinum and palladium in what's been a banner year for precious metals.
Bullion advanced for a fourth day, the best run since October, and headed for the highest close in more than seven weeks. The climb comes amid a focus on whether the Federal Reserve's rate-cutting pause will hold next year following three reductions in 2019.
Spot gold advanced as much as 0.4% to $1,505.62 an ounce, the highest intraday price since Nov. 5, and was at $1,504.71 at 8:43 a.m. in London, where many market participants remain on leave for the Boxing Day break. Silverclimbed as much as 1.4% to $18.0220 an ounce.
Source : Bloomberg