Monday 12 August 2019

Gold futures trade flat on Monday

Gold futures were trading almost flat on Monday, with safe haven buying following escalated trade worries between the world’s largest economies and increased fears of a global economic slowdown. A private report said recession risks were increasing due to the Sino-US trade war, and cut its forecast for fourth-quarter US growth.

Gold futures for December delivery were almost flat at $1,508.50 an ounce on the Comex division of the New York Mercantile. Spot gold steady at $1,496.99 per ounce.

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