Economic news

Gold Almost Unchanged, Key on Trade Talk Hints, Brexit

On Monday gold rates were almost flat as traders hung tight for greater clearness on Sino-U.S. exchange talks, and Brexit after British parliamentarians postponed a significant decision on the transition agreement.

goldPhoto: Flickr

Spot gold was unchanged at $1,490.03 per ounce starting at 0519 GMT. U.S. gold futures plunged marginally to $1,493.50.

Asian stocks edged higher, constraining bullion's additions, with MSCI's broadest equity indicators of Asia-Pacific stocks outside Japan up 0.2 percent.

The extended China-U.S. exchange row has negatively affected economies around the globe with Japan's futures down for the tenth month in a row, South Korean futures diving 19.5 percent in October and Thai futures failing to meet the expectations.

In China, new home rates developed at an unfaltering pace in September, an alleviation for policymakers who stay careful about high debt and bubble hazard, and are ceasing from invigorating the part as the economy cools.

Giving little solace to market assessment, British Lawmakers on Saturday cast a ballot to retain a choice on PM Boris Johnson's arrangement, a move that constrained him to look for from the EU the third deferment of Britain's exit from the bloc.

The decision in favor of an augmentation managed a hit to good faith that an arrangement concurred a week ago would guarantee Brexit occurs with minimal financial interruption.

Spot gold looks neutral in a range of $1,479-$1,502 per ounce, and a break could propose a direction.

Silver advanced by 0.2 percent to $17.57 per ounce, and platinum gained 0.4 percent to $892.64.

Meantime, palladium added 0.9 percent to $1,770.07 an ounce, marginally lower than a peak of $1,783.21 it hit on Thursday.


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree