Reuters | Aug 10, 2020 09:20
Aug 10 (Reuters) - Gold prices steadied on Monday after a
steep fall in the previous session, as concerns over a worsening
COVID-19 pandemic and intensifying U.S.-China tensions
underpinned the metal's safe-haven appeal.
* Spot gold XAU= was steady at $2,033.40 per ounce by 0045
* Gold fell more than 1.5% on Friday after hitting a record
high of $2,072.50, as the U.S. dollar regained some ground.
* U.S. gold futures GCv1 rose 0.7% to $2,042.90.
* More than 19.73 million people have been reported infected
by the novel coronavirus globally and 726,414 have died,
according to a Reuters tally. * U.S. President Donald Trump signed executive orders on
Saturday partly restoring enhanced unemployment payments to the
tens of millions of Americans who lost jobs in the pandemic, as
the United States marked a grim milestone of 5 million cases.
* Investors also kept a wary eye on China's trade relations
with the U.S., after Trump signed two executive orders banning
two popular Chinese apps. * Gold is used as a safe investment during times of
political and financial uncertainty.
* Speculators reduced their bullish positions in COMEX gold
and silver contracts in the week to Aug. 4, the U.S. Commodity
Futures Trading Commission (CFTC) said on Friday. CFTC/
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.46% to 1,262.12
tonnes on Friday. GOL/ETF
* Physical gold remained out of favour in most Asian hubs
last week as a worsening pandemic kept retail buyers away with
global benchmark spot prices at historic highs. GOL/AS
* Silver XAG= eased 0.1% to $28.28 per ounce, while
platinum XPT= gained 0.9% to $970.12 and palladium XPD=
climbed 0.5% to $2,188.13.
0130 China PPI, CPI YY July
Written By: Reuters
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.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.