The spot gold market is calm, but concerns about the Sino-US trade agreement remain
London (Nov 13) Gold rose on Wednesday, the strength of the dollar limited the impulsive energy of gold prices.
Spot gold rose 0.3 per cent to $1461.09 an ounce.
The US benchmark 12-month gold contract rose 0.5 per cent to $1461.00 an ounce.
Asian stock markets and US stock index futures fell on Wednesday as concerns about a Sino-US trade deal intensified after Mr Trump failed to release any new news.
Gold, a safe haven in times of economic and political turmoil, has risen about 13 per cent so far this year as investors worry about trade frictions and central banks around the world ease monetary policy.
At 00: 00:00 Beijing time, Federal Reserve Chairman Colin Powell will address the Congressional Joint Economic Committee, which will announce details of Powell's hearing on its website.
"slowing economic growth, geopolitical risks and interest rate easing are all realities," ANZ bank (ANZBank) said in a report. "
"in this context, gold investment demand will be supported in 2020," he added. "
SPDR??Gold??Trust, the world's largest gold listed trading fund, said its position fell 0.45 per cent to 897.09 tonnes on Tuesday, compared with 901.19 tonnes on Monday.
Spot palladium rose nearly 0.6 per cent to $1709.17 an ounce.
ANZ said: "Palladium prices are higher than other precious metals because the shortage has not been alleviated."
The Bank of Australia also said: "despite the malaise of the automotive industry, stricter vehicle emission standards have stimulated demand for palladium."
Spot silver rose about 1 per cent to $16.908 an ounce. Spot platinum rose 0.8 per cent to $873.88 an ounce.
A grand event for thousands of people in China's non-ferrous metal industry
Shanghai colored net (SMM) annual meeting is the annual event of the metal industry, with an annual participation scale of thousands of people, domestic and foreign metal industry people gathered together to review and summarize the experience and harvest of the year, and lay the groundwork for the production, operation and operation of the coming year.
This year's "2019 China Nonferrous Metals Industry Annual meeting and 2020 (SMM) Metal Price Forecast Conference" was jointly created by SMM and China Renewable Resources Industry Technology Innovation Strategic Alliance and Shanghai Nonferrous Metals Industry Association. At the same time, the first "China Renewable Metals Industry chain Development Summit Forum" was held, and SMM metal price forecasting conference and waste battery recycling exchange were set up for you to enjoy. From the development of non-ferrous metal market to the recycling of renewable resources, from the detailed explanation of policies and systems to the research and development of industrial chain technology.
This is not only a meeting, but also an industry exchange of information, collision thinking sparks of brainstorming!
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