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Gold Edges Lower as Chinese Stimulus Hope Supports Risk Appetite


Monday, 17 February 2020 20:59 WIB

GOLDEMAS


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Gold prices were fractionally lower on Monday, largely unmoved by either virus-related concerns or by worse-than-expected growth numbers from Japan.

In quiet trading subdued by the U.S. Presidents Day holiday, gold futures were down 0.1% from Friday’s close at $1,584.45 a troy ounce by 8:04 AM ET (13:04 GMT). Spot gold was down 0.2% at $1,581.76 an ounce.

Silver futures were up 0.2% at $17.78, while platinum futures were up 0.2% at $970.65. Copper futures, which tend to reflect anticipation of industrial activity, hit a three-week high of $2.63 a pound before easing off a cent. They were still up 0.8% on the day.

The moves came against the backdrop of a jump in Chinese equity markets – echoed more weakly in Europe – after President Xi Jinping hinted at more stimulus measures to support the economy in an editorial over the weekend.

Source : Investing.com


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