- December 27, 2019
- Posted in LOCAL
Gold prices rose above the key $1 500 mark to a near two-month peak yesterday, as uncertainty around the signing of the ‘phase one’ trade deal between the United States and China boosted safe-haven flows into the metal.
Spot gold rose 0,3 percent to $1 503,02 per ounce by 0513 GMT.
Prices hit their highest since November 5 earlier in the session at $1 n503,87. US gold futures were up 0,2 percent to $1 507,40 per ounce.
“The data was weak before Christmas from the US and we haven’t seen anything signed or concrete yet in terms of the phase one trade deal . . . so the market is unsure whether that will come true,” said Brian Lan, managing director at dealer Gold Silver Central in Singapore. — Reuters.