Gold Dec '19 (GCZ19)
Gold Futures Market News and Commentary
Dec Comex gold (GCZ19) this morning is down -1.2 (-0.08%), and Dec silver (SIZ19) is up +0.022 (+0.13%).
Precious metals are mixed this morning as a weaker dollar and a slide in stocks is offset by fund liquidation of gold.
Reduced optimism for a trade deal between the U.S. and China is weighing on stocks and the dollar today, which is supportive for safe-haven demand of precious metals, after President Trump on Saturday said that reports about how much the U.S. was ready to roll back tariffs on China were "incorrect."
Precious metals also have support on escalation of violent protests over the weekend in Hong Kong, which may also undermine U.S./China trade talks.
Weak global economic data today was dovish for global central bank policies, which is bullish for gold demand as a store of value. China Oct PPI fell -1.6% y/y, weaker than expectations of -1.5% y/y, and the steepest pace of decline in 3-1/4 years. Also, China Oct new yuan loans rose by 661.3 bi... Read more
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