empty
 
 

2019.08.1515:02:00UTC+00Gold Prices See Additional Support On Thursday

Gold prices saw continued upside on Thursday following solid gains a day earlier as traders move back to safe havens as fears of global recession mounted.

Spot gold was up $7.00 or 0.46 percent at $1,523.10, while gold futures advanced $6.05 or 0.39 percent to $1,533.60.

Risk-off sentiment dominates equity markets after the yield on 30-year U.S. treasuries fell below 2 percent for the first time ever in a sign that interest rates will likely remain lower for longer.

The U.S. yield curve remains inverted for the second day running today, triggering an extensive flight to safety. The yield curve has inverted before each recession in the past half-decade.

The precious metal had reached a six-year high Tuesday on concerns over the trade dispute between the United States and China before easing later in the day.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback