On Wednesday Gold prices increased following a touch of its 7-day low in the previous session. The recovery came while concerns covering U.S.-China trade conflict increased, restricting risk demand and improving the interest of the popular safe-haven metal. The U.S. gold futures went up 0.4% to $1,336.59 an ounce.
The Spot gold surged 0.5% to $1,333.05 after dropping to its weakest level since the start of this month at $1,319.34 in the last trading session.
An analyst with Singapore-based Phillip Futures said
“Market sentiment this morning is very cautious and risk appetite has started to diminish gently, therefore we see a little bit of buying in gold”.
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Daily Analysis - 12/06/2019