👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

PRECIOUS-Gold eases as drop in virus cases lifts risk appetite

Published 19/02/2020, 12:32 pm
© Reuters.  PRECIOUS-Gold eases as drop in virus cases lifts risk appetite
XAU/USD
-
XAG/USD
-
GC
-
SI
-
GLD
-
XPT/USD
-
XPD/USD
-

Feb 19 (Reuters) - Gold prices eased on Wednesday after crossing the key $1,600 level in the previous session, as global shares climbed in cautious trade following a slight dip in new coronavirus cases, while palladium hit a fresh peak on supply issues.

FUNDAMENTALS

* Spot gold XAU= was down 0.1% at $1,600.67 per ounce, as of 0037 GMT. In the previous session, bullion prices surged 1.3% to their highest since Jan. 8 at $1,605.10.

* U.S. gold futures GCv1 remained unchanged at $1,603.60.

* New coronavirus cases in the Chinese province at the epicentre of the outbreak fell for a second straight day to 1,693, but deaths rose after the World Health Organization had cautioned there was not yet enough data to know if the epidemic had slowed. Asian shares and U.S. stock futures edged cautiously higher on Wednesday as investors tried to shake off worries about the epidemic. MKTS/GLOB

* Providing a fillip to investor confidence was China's decision to grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States. On Feb. 17, Chinese policymakers had also implemented a raft of measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth. A federal judge in Texas rejected Chinese telecommunications equipment maker Huawei Technologies Co Ltd's constitutional challenge to a U.S. law that restricted its ability to do business with federal agencies and their contractors. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust GLD holdings rose 0.63% to 929.84 tonnes on Tuesday. GOL/ETF

* Palladium XPD= inched up 0.2% to $2,641.02 an ounce. Earlier in the session, the auto-catalyst metal touched a record high of $2,669.00.

* Silver XAG= was trading flat at $18.17, while platinum XPT= rose 0.5% to $996.20. DATA/EVENTS (GMT) 0930 UK

Jan 1330 US

Housing Starts Number

Jan 1900 US

Federal Open Market Committee will release

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.