Press "Enter" to skip to content

Gold prices still bullish in the last week of the year

© Reuters. – Gold prices fell on Sunday in Asia ahead of the last two days of the year. U.S. Gold Futures lost 0.10 % to $1,516.65 per ounce by 07:45 PM ET (12:45 AM GMT). However, it holds steady over $1,500 after it jumped to $1,503.05 on December 24.

Bullish gold investors say it was the best year since 2010, with a price rise of nearly 18% so far. The gold market has benefits from the geopolitical tensions, such as the U.S.-China trade spat, risk of the U.S. President Donald Trump’s impeachment, six-month-long trade feud between Japan and South Korea, and ongoing protests in Hong Kong.

Experts say these uncertain political situations have affected investors in the yellow metal.

As the two largest economies in the world have not confirmed where and when to sign phase one trade deal, the safe-haven asset keeps getting attentions from the investors.

“The U.S.-China trade deal, although it has a lot of positive news flowing in, has nothing yet on paper under a seal. That is keeping investors a little cautious,” Chris Gaffney, president of world markets at TIAA Bank, told Reuters.

“On the other hand a positive note on the global economic environment is boosting equities and weighing on gold prices. The volumes are also pretty low,” Gaffney added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.