Gold edges higher

10 Sep, 2019 - 00:09 0 Views
Gold edges higher Market watchers say that some gold producers, especially those in the small-scale and artisanal mining sector, end up channelling their produce to the black market due to the inefficiencies of the state buyer

The Herald

Gold edged higher yesterday crawling away from a two-week low touched in the previous session, supported by hopes of monetary policy easing by major central banks.  Spot gold was up 0,2 percent at $1,509.01 per ounce.

The metal touched $1,502.50 on Friday, a level last seen on August 23. US gold futures were up 0,1 percent at $1,517.40 an ounce.

“Gold has been retreating because of risk appetite returning to the market, so the concerns (over US-China trade ties and global growth) seem to be subdued,” Commerzbank analyst Eugen Weinberg said. Reuters.

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