More safe-haven demand boosts gold, silver prices

Kitco News:

“Gold prices are higher in early U.S. trading Tuesday, on more safe-haven buying interest amid heightened trader and investor anxiety in the world marketplace. December gold futures were last up $12.10 an ounce at 1,541.30. December Comex silver prices were last up $0.318 at $18.66 an ounce.

Asian and European stock markets mostly lower overnight. U.S. stock indexes are pointed toward solidly lower openings when the New York day session begins. Risk aversion is back in the marketplace early this week, amid geopolitical matters that continue to simmer.

China over the weekend filed a complaint with the World Trade Organization against the U.S. and its tariffs imposed on China. This move appears to ratchet up the trade war between the world’s two largest economies. The Chinese yuan dropped to an 11-year low against the U.S. dollar overnight, at near 7.2 to the dollar. The weaker yuan makes Chinese goods less expensive in U.S. dollar terms.”

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