Gold hits one-week low as slowdown worries fade

Monday, 15. April 2019 10:41

Prices of precious metals declined on Monday with gold hitting the lowest level since April 5 as investors' interest in safe-haven assets faded amid positive signs for the global economy. Fears of a global economic slowdown faded after China reported a 14% jump in its trade surplus, while strong bank earnings from the United States also helped ease fears.

After hitting a one-week low of $1,286.08 per ounce, the yellow metal lost 0.26% to sell for $1,287.26 per ounce at 4:38 am ET.

Meanwhile, silver decreased 0.29% to go for $14.94 per ounce and palladium dipped 0.16% to change hands for $1,371.94 per ounce at 4:39 am ET. Platinum was down 0.23% to go for $888.72 at 4:40 am ET.

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Breaking the News / NP