Gold Zig-Zags amid Trade Doubts

Written by Swiss America

bars business global intergold 335268Gold rises on trade war doubts, weak stocks after Hong Kong protests turn violent -CNBC
"Gold prices rose early Monday on fresh doubts over whether the United States and China can strike a trade deal, while a sluggish start to the week in equities weighed on risk appetite after protests in Hong Kong turned violent over the weekend....'One reason why gold is higher is because the trade deal is still only speculation, and we are yet to see it. The markets are being a bit cautious here,' said Saxo Bank commodity strategist Ole Hansen.

Stock markets dropped on Monday with a fresh escalation of violence in Hong Kong also weighing on prices. Local police fired live rounds at protesters, with cable TV and other Hong Kong media reporting at least one protester being wounded. Video footage showed a protester lying in a pool of blood. 'The turmoil in Hong Kong has not helped market sentiment as it underlined rising geopolitical tensions in the region. Further market corrections are to be expected this week,' said Pierre Veyret, Technical analyst at ActivTrades. U.S. President Donald Trump told reporters on Saturday that Beijing wanted a trade deal more than he did."

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