Gold trades 1% higher amid govt shutdown

Monday, 24. December 2018 17:39

Precious metals traded in the green on Monday with gold rising 1% as investors grew worried about the partial government shutdown in the United States which prompted the global market selloff. Political uncertainty in the US drove the investment incentives lower with market watchers turning towards more safe-haven assets such as gold. Meanwhile, market watchers were also increasingly concerned about the global economic slowdown predicted in 2019.

Spot gold rose 0.96%, changing hands for $1,267.62 per ounce at 5:34 pm CET while silver gained 0.85% to trade for $14.75 per ounce at 5:35 pm CET. In the meantime, platinum increased 0.15% to go for $789.09 per ounce at the same time while palladium added 0.70% to sell for $1,227.14 per ounce at 5:36 pm CET.

The euro traded 0.49% higher against the US dollar to go for 1.1414 at 5:37 pm CET.

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