DJIA39760.08
LIVE477.75(1.22%)
NDX18280.84
LIVE70.31(0.39%)

Gold down as potential Japanese stimulus boosts risk appetite


Monday, 25 May 2020 12:17 WIB

GOLDEMAS


Gold declined on Monday as Japanese equities rose on news of a potential stimulus programme that boosted investors' risk appetite, though fresh tensions over Hong Kong limited the metal's fall.

Spot gold fell 0.4% to $1,728.06 per ounce by 02:52 GMT. U.S. gold futures were down 0.4% at 1,728.50.

Gold on Friday rose as much as 0.8% to touch $1,739.51, before paring gains.

Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper said.

Japan's Nikkei jumped 1.5% following the report.

Highlighting a return of political uncertainty, thousands rallied on Sunday to protest against Beijing's plan to impose national security laws on Hong Kong.            

The proposed national security legislation for Hong Kong could lead to U.S. sanctions and threaten the city's status as a financial hub, White House National Security Adviser Robert O'Brien said on Sunday.            

Gold is seen as a safe-haven asset during political and economic uncertainties.

Reflecting investor sentiment, SPDR Gold Trust holdings, the world's largest gold-backed exchange-traded fund, rose 0.4% to 1,116.71 tonnes on Friday.    

Source: Reuters


RELATED NEWS

  • Silver held around $23 per ounce, not far from the 1-month low touched on September 14th, pressured by the Fed's hawkish pause, the potential U.S. government shutdown, and renewed concerns about indus...
  • Silver held around $23 per ounce, pressured by stronger dollar and higher Treasury Yields following the Fed's hawkish stance, as the regulator signaled one more hike and a slower monetary easing. Sti...
  • Silver decreased to a 4-week low of 22.6 USD/t.oz, pressured by a strength in the US dollar as signs of resilience in the US economy supported the outlook for the Federal Reserve to maintain borrowing...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.