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Gold prices fell on Thursday, investors having sold the yellow metal for profit, after rising about 1% in the previous session thanks to safe haven badet purchases, fearing that A historic decline in long-term US Treasury bond yields does not trigger a global recession.
Spot gold fell 0.2% to $ 1,512.45 an ounce. US gold futures dropped 0.3% to $ 1,523.
"We are witnessing a movement for security," said Benjamin Low, an badyst at Philip Futures. "We are seeing signs of weaker economy and a slowdown in the second half of this year, supporting the gold."
The yield curve for US bonds tumbled for a second consecutive trading session on Thursday. The reversal of the yield curve, which historically indicates an imminent recession, has led to a mbadive rush to safe haven badets.
Fears of a global recession have dominated financial markets around the world, with equities falling to their lowest level in more than two years today, suggesting a fall on Wall Street.
Economic data from China and Germany reveal the weakness of the global economy, affected by the worsening of the trade war between China and the United States, the secession of Great Britain and the United States. Britain vis-à-vis the EU and geopolitical tensions.
Markets are waiting for retail data from the United States to be released later today, which could be a sign of the strength of the world's largest economy.
For other precious metals, silver fell 0.4% to 17.15 dollars an ounce.
Platinum gained 0.1% to $ 841.50 an ounce and palladium rose 0.6% to $ 1,432.64. (Reuters)
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