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Gold Has Solid Start to 2020 as Dollar in Downtrend


Thursday, 2 January 2020 13:23 WIB

GOLDEMAS


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Gold built on the biggest annual gain since 2010 as a gauge of the dollar traded near a nine-month low, and investors assessed developments in North Korea.

The Bloomberg Dollar Spot Index held near the lowest since March, helping to support bullion prices. Haven assets may also catch a bid as North Korean leader Kim Jong Un declared he was no longer bound by his pledge to halt major missile tests and would soon debut a “new strategic weapon.”

Platinum also rose. Long-only exchange-traded funds focused on the precious metal used to curb emissions from diesel cars attracted $850 million last year through Monday, the biggest annual inflow.

Spot gold as much as +0.3% to $1,521.27/oz and traded at $1,519.32 at 1:05pm in Singapore. Prices +18% in 2019, most since 2010.

Bloomberg Dollar Spot Index +0.1% after -2.8% in final quarter of 2019.

Source : Bloomberg


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