Gold Prices Rise as Equities Sink

Written by Staff Writer

bars business global intergold 335265smGold firms as equities sink -Reuters
"Gold prices firmed on Thursday, supported by a slide in equity markets amid fresh trade tensions... 'We have the higher dollar and lower Chinese yuan pressuring gold. At the same time, yields are a bit lower and equity markets are down (supporting gold),' said ABN AMRO analyst Georgette Boele....

World shares were in the red as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war between the world's two largest economies. The White House is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision....Meanwhile, U.S. Federal Reserve officials at their last meeting agreed that their current patient approach to setting monetary policy could remain in place 'for some time,' a further sign policymakers see little need to adjust rates."