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Gold Rebounds as Persistent Trade Rift Sinks Equities
Wednesday, 22 May 2019 21:19 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures rebounded from a two-week low, underpinned by weaker equities and a wavering dollar. Copper prices declined.

Gold futures for June delivery +0.1% at $1,274.40/oz at 9:38am in N.Y. Price dropped to $1,269 on Tuesday, the lowest intraday level since May 3.

Equities dropped amid signs of deepening U.S.-China trade tensions, bolstering demand for bullion as a haven. The Bloomberg Dollar Spot Index pared an early advance and was mostly lower against its G-10 peers. Traders await minutes of the Federal Reserve™s most recent meeting later Wednesday. Fed Bank of St. Louis President James Bullard said in an interview that U.S. policy makers may have œslightly overdone it by raising interest rates in December, though it™s premature to talk about a rate cut.

Source : Bloomberg

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