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Gold steady as big rate cut bets fade, analysts eye further upside

Monday, 22 July 2019 18:16 WIB

GOLDEMAS Spot Emas

Gold steadied on Monday, having slid 1% in the previous session on lowered expectations of a big interest rate cut by the U.S. Federal Reserve, but the metal's overall momentum remained supported by global geopolitical uncertainties.

Spot gold was up 0.1% at $1,426.36 an ounce at 10:28 GMT, having touched $1,448 on Friday for its highest since May 2013. Though prices then dropped by more than 1% gold was still up 0.7% over the the week.

U.S. gold futures remained unchanged on Monday at $1,427.20.

Silver, meanwhile, rose 0.9% to $16.34 an ounce, on track for a third straight daily gain.

Source : Reuters

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