PRECIOUS-Gold recovers as U.S. stimulus concerns dent risk sentiment

PRECIOUS-Gold recovers as U.S. stimulus concerns dent risk sentiment

Reuters  | Aug 12, 2020 09:20

PRECIOUS-Gold recovers as U.S. stimulus concerns dent risk sentiment

Aug 12 (Reuters) - Gold clawed back some lost ground on
Wednesday, after sinking 6% in the previous session, as equities
stalled on doubts over an additional round of U.S. fiscal
stimulus and rising Sino-U.S. tensions.

* Spot gold XAU= was up 0.5% at $1,920.04 per ounce by
0045 GMT, having suffered its largest one-day drop in more than
seven years on Tuesday due to a bounce in risk appetite and
firmer dollar.
* U.S. gold futures GCv1 fell 0.7% to $1,930.70.
* A stalemate between the Republican White House and
congressional Democrats over coronavirus relief ended in a
fourth day without talks on Tuesday, with each party blaming the
other for intransigence. * President Donald Trump's executive order banning China's
TikTok could prevent U.S. app stores from offering the popular
short-video app and make advertising on the platform illegal,
according to a White House document seen by Reuters.
* Meanwhile, Trump said his relationship with Chinese
President Xi Jinping has frayed in the wake of the COVID-19
pandemic. * More than 20.19 million people have been reported to be
infected by the new coronavirus globally and 736,577​ have died,
according to a Reuters tally. * Asian stocks were set for choppy trade after Wall Street
dipped amid growing uncertainty about an additional round of
U.S. fiscal stimulus. MKTS/GLOB
* The dollar index .DXY held steady against a basket of
major currencies. USD/
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.3% to 1,257.93
tonnes on Tuesday.
* Silver XAG= rose 1.6% to $25.18 per ounce, platinum
XPT= gained 0.5% to $934.52 and palladium XPD= was steady at

0130 Australia Wage Price Index Q2
0600 Britain GDP Prelim Q2
1230 U.S. CPI MM, SA July
1230 U.S. CPI YY, NSA July

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

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.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.