NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

PRECIOUS-Gold rises as Sino-U.S. trade, Hong Kong tensions escalate

Published 20/11/2019, 03:24
PRECIOUS-Gold rises as Sino-U.S. trade, Hong Kong tensions escalate
XAU/USD
-
XAG/USD
-
GC
-
SI
-
XPD/USD
-

Nov 20 (Reuters) - Gold prices rose on Wednesday on

heightened worries that a Sino-U.S. trade deal could hit a snag

after President Donald Trump threatened fresh tariffs on Beijing

and as the U.S. Senate passed a bill supporting Hong Kong

anti-government protesters.

FUNDAMENTALS

* Spot gold XAU= rose 0.2% to $1,474.42 per ounce at 0144

* U.S. gold futures GCcv1 was little changed at $1,474.80

per ounce.

* The United States would raise tariffs on Chinese imports

if no deal is reached with Beijing to end a trade war, Trump

said on Tuesday. * The U.S. Senate, in a unanimous vote, passed legislation

on Tuesday aimed at protecting human rights in Hong Kong amid

China's crackdown on a pro-democracy protest movement that has

gripped the vital financial centre for months. The move was

condemned by Beijing. * Anti-government protesters holed up in a Hong Kong

university searched for escape routes on Tuesday after more than

two days of clashes with police, dramatic breakouts by rope and

motorcycle and more than 1,000 arrests in 24 hours. * Asian shares lumbered lower on Wednesday as the trade

talks produced nothing but a stream of conflicting messages.

MKTS/GLOB

* The dollar and the safe-haven yen found support as a lack

of clarity on the talks kept investors cautious ahead of the

release of minutes from the U.S. Federal Reserve's last policy

meeting. USD/

* Wall street got hit on Tuesday after senior U.S. officials

told impeachment investigators in Congress that they were

concerned by President Trump's effort to get Ukraine to

investigate a political rival, with one White House official

calling it a "shock." * The U.S. Fed has interest rates at the appropriate level

for the U.S. economy but risks to the economic outlook are still

tilted downwards, New York Fed President John Williams said on

Tuesday. * Elsewhere, silver XAG= edged up 0.1% to $17.15 per

ounce, palladium XPD= fell 0.3% to $1,757.46 per ounce and

platinum XPT= declined 0.3%, to $907.72 per ounce.

DATA/EVENTS (GMT)

0700 Germany Producer Prices MM, YY Oct

1900 US Federal Open Market Committee will release

the minutes from its October 29-30 policy meeting

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.