Gold Finishes Higher After Cooler-Than-Expected Retail-Sales Report

Thursday, 17 October 2019 03:40 WIB



Gold prices ended higher on Wednesday as investors watched global political news surrounding trade and Brexit, and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying.

Moves for the precious metal came as Brexit and the "usual worries persist" on Turkey, the Middle East, U.S. politics and the global economic outlook, as well as on uncertainty tied to the continued tariff talks with China, said George Gero, managing director, at RBC Wealth Management, in a daily note.

Gold for December delivery on Comex rose $10.50, or 0.7%, to settle at $1,494 an ounce. It recouped much of the 0.9% decline see on Tuesday, when prices for the most-active contract settled at their lowest since Sept. 30, according to FactSet data. December silver meanwhile, edged up by 4.3 cents, or 0.3%, to $17.427 an ounce, after a 1.8% decline on Tuesday.

Source : Marketwatch


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