Gold Holds Around $1,500/oz On Trade War, Global Growth Woes - Dollar Advisory | Best Commodity Tips Provider

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Thursday 8 August 2019

Gold Holds Around $1,500/oz On Trade War, Global Growth Woes

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Gold held steady on Thursday, hovering near the key psychological level of $1,500, supported by uncertainties around Sino-U.S. trade war and a slew of interest rate cuts by global central banks amid fears of an economic slowdown. Spot gold was little changed at $1,500.20 per ounce. U.S. gold futures were down 0.4% at $1,513 an ounce. The moves by central banks around the world are very important, and the focus we are getting on currency markets for the potential for competitive devaluation remains supportive for gold. 

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