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Gold rises as US political uncertainty breeds risk-aversion


Monday, 24 December 2018 17:24 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold prices climbed on Monday, holding ground near a six-month high hit last week, as investors remained concerned about political uncertainty in the United States and global economic slowdown.

Spot gold was up 0.6 percent at $1,263.01 per ounce, as of 08:56 GMT. The metal had hit its highest since early July at $1,266.40 on Thursday.

U.S. gold futures were up 0.6 percent at $1,265.8 per ounce.

A partial U.S. government shutdown was almost certain to drag through the Christmas holiday after the Senate adjourned on Saturday without breaking an impasse over President Donald Trump’s demand for more funds for a border wall.

Signs of political instability in the United States at a time when the global economy is weakening sent equities sliding, further boosting demand for gold.

Fed Chairman Jerome Powell had said last week that policymakers would be “patient” in determining future rate hikes amid expectations the U.S. economy will slow next year and inflation likely to stay below the Fed's 2 percent target next year.

Source: Reuters


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