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Gold Prices End Higher Amid U.S.-China Tensions, But Post a Weekly Decline


Saturday, 23 May 2020 02:35 WIB

GOLDEMAS


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Gold prices ended higher on Friday as testiness between the U.S. and China fed risk-off sentiment, drawing investors into assets considered to be havens, including government debt and the Japanese yen.

However, analysts said continuing plans to reopen economies that have been frozen by the COVID-19 pandemic and hope for remedies for the virus have limited the upside in precious metals, sending gold lower for the week.

Gold for June delivery on Comex rose $13.60, or 0.8%, to settle at $1,735.50 an ounce, after the yellow metal dropped 1.7% on Thursday marking its first decline three sessions. Front-month contract prices saw a weekly loss of 1.2%, according to FactSet data.

Meanwhile, July silver added 32.9 cents, or 1.9%, at $17.693 an ounce, after falling 3.7% in the previous session. Prices were up nearly 3.7% for the week.

Source : Marketwatch


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