DJIA22645.56
LIVE-4.18(-0.02%)
NDX8049.31
LIVE-32.35(-0.40%)

Gold Tops $1,600 as Virus Fuels Growth Fears; Palladium's Record


Wednesday, 19 February 2020 09:36 WIB

GOLDEMAS


c_740_198_16777215_00_images_assets_GOLD3_Gold-price-bitcoin-cryptocurrency.jpg

Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium continued it’s record-breaking rally.

Bullion steadied after surging 1.3% Tuesday’s as Apple Inc.’s warning that the virus and efforts to contain it would have its sales missing forecasts spurred a sell off in stocks. China’s death toll from the disease topped 2,000, while the province at the center of the outbreak reported fewer additional cases. The flight to safety has benefited haven assets, with the rally spilling over to the palladium market, where a multi-year deficit is expected to widen in 2020.

Spot gold added 0.2% to $1,604.82 an ounce at 9:14 a.m. in Singapore. Prices had touched $1,611.42 in early January, the highest since 2013, as geopolitical tensions flared. The unfolding health emergency has seen holdings in global exchange-traded funds backed by bullion expand to a record. Palladiumclimbed 2% to $2,680.31 an ounce, an all-time high.

Source : Bloomberg


RELATED NEWS

  • Gold futures climbed on Monday to settle at their highest in more than seven years. "Fiscal and monetary stimulus will provide a nice backdrop for gold, but safe-haven demand will be high due to upco...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.