Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
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Gold presses back above $1,500 as trade jitters return
MARKETWATCH--- "Gold prices moved higher Thursday, finding haven-related support after a news report said China officials have doubts over prospects for a long-term trade deal with the U.S. 'News that China might not be able to enter into a long term trade deal with the U.S., a 6th straight negative Chinese factory activity report, and economic uncertainty from soft German retail sales and soft Japanese construction orders' all contributed to haven support for the precious metal, said analysts at Zaner Metals....'Gold is rallying on expectations the U.S.-China trade war will not be ending anytime soon,' said Edward Moya, senior market analyst at Oanda, in a note. 'China basically said what everyone was already thinking, that this trade war will likely drag beyond the 2020 U.S. presidential election and this big macro risk will keep gold supported,' he said....'It would appear as if both markets took the Fed action...as a sign that the world economy is still at risk,' said analysts at Zaner Metals."
