Gold prices rose on Thursday as tensions between the United States and China over a Hong Kong security law escalated, while fresh stimulus measures by several economies to mitigate the coronavirus fallout also lent support.
Spot gold was up 0.2% at $1,711.35 per ounce, as of 1250 GMT, after touching a two-week low on Wednesday. U.S. gold futures fell 0.2% to $1,723.60.
Stimulus measures to limit the economic damage have supported gold, which is often considered a hedge against inflation and currency debasement.
SPDR Gold Trust holdings, the world’s largest gold-backed exchange-traded fund, rose 0.2% to 1,119.05 tonnes on Wednesday.
Palladium rose 0.2% to $1,938.76 per ounce and platinum gained 1.9% to $834.19, while silver fell 0.4% to $17.24.
Via Reuters
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