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Gold Gains As Hong Kong Unrest Stirs Risk Aversion


Thursday, 28 May 2020 09:44 WIB

GOLDEMAS


Gold prices rose on Thursday as tensions between the United States and China over a Hong Kong security law escalated, while fresh stimulus measures by several economies to mitigate the coronavirus fallout also lent support.

Spot gold was up 0.2% at $1,711.35 per ounce, as of 1250 GMT, after touching a two-week low on Wednesday. U.S. gold  futures fell 0.2% to $1,723.60.

U.S. Secretary of State Mike Pompeo said Hong Kong no longer qualifies for its special status under the U.S. law, dealing a blow to its status as a financial hub.

U.S. President Donald Trump has a long list of possible responses to China’s plans to impose a national security law on Hong Kong, including visa and economic sanctions, said David Stilwell, assistant Secretary of State for East Asia.

Source : Reuters


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