Spot gold traded steady as investors weighed geopolitical tensions and grim virus figures in some U.S. states. Silver futures on the Comex were near $20 an ounce, which would be the highest level since 2016.
President Donald Trump has indicated to aides that he doesn™t want to further escalate tensions with Beijing, and has ruled out additional sanctions on top officials for now, according to people familiar with the matter. Asian stocks began Thursday in a mixed fashion ahead of a slew of economic data in China that will provide clues on the path of economic recovery from the pandemic.
Silver futures held gains after surging as much as 1.6% on Wednesday. Precious metals have advanced as the pandemic fuels haven demand, while easing monetary policy around the globe has aided non-interest-bearing assets.
Spot gold was little changed at $1,809.12/oz at 9:18am in Singapore. Spot silver -0.7%. The Bloomberg Dollar Spot Index traded steady.
Source: Bloomberg
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