Investing.com – Gold prices were holding low in Asia on Thursday, with shares trading lower due to persistent fears of a potential recession and the development of the Sino-US trade front.
for December delivery of the Comex Division to the New York Stock Exchange rose 0.2% to $ 1,551.35 an ounce by 01:20 ET (05:20 GMT).
On Wednesday, the carefully observed yield curve reversed and raised concerns about a potential recession. Inversion is often seen as a negative sign for the economy, as every recession in the last 50 years has been preceded by it.
Global stock markets fell among the phenomenon, while gold, which usually becomes more attractive amid declining yields, is rising.
Sino-U.S. trade uncertainty further lowered investor sentiment after US Treasury Secretary Steven Mnuchin declined to confirm whether a planning meeting with Chinese officials would still occur next month.
However, Mnuchin stated that he believed a meeting with China would still occur, though he did not say when.
In addition to the uncertainty was the decision of British Prime Minister Boris Johnson to suspend parliament more than a month before Brexit, which means that parliament will not sit between mid-September and mid-October.
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