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Gold Nudges Out of Tight Range Amid Trade Angst

Monday, 23 December 2019 17:15 WIB

GOLDEMAS Spot EmasSILVER

Gold rose Monday after holding a tight range of about $11 last week. Silver jumped to the highest in six weeks.

Traders are looking for reasons to buy bullion ahead of the holiday break, said Artem Bagdasaryan, an analyst at BCS Global Markets. Anxiety over the yet-to-be-signed U.S.-China pact is supporting haven buying, he said.

President Donald Trump spoke to his counterpart Xi Jinping on Friday, after which Trump said the sides are arranging a formal signing. Still, China's leader raised concerns over U.S. interference in his country's domestic affairs, including Taiwan, Hong Kong, Xinjiang and Tibet, Xinhua news agency reported.

Spot gold gained as much as 0.5%, most since Dec. 13

Traded at $1,485.06 at 10am in London. Spot silver jumped 1.2% to $17.3967/oz. The metal advanced for a fourth day, topping $17.4/oz for the first time since early November.

Source : Bloomberg

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