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        Economic worries and uncertain trade situation between China and the United Stat


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Fears of a global economic slowdown and uncertain trade between the United States and China have kept safe-haven gold above $1,500 an ounce.
However, gold prices have been limited, investors have assessed mixed U.S. economic data, and strong retail sales data have given risk appetite a breather.
At 1742 GMT, spot gold rose 0.4% to $1,521.47 an ounce. U.S. gold futures rose 0.2% to close at $1,531.20 an ounce.
After touching a daily high of $1,523 an ounce, gold returned to a six-year high of less than $11 hit on Tuesday.
"But the latest U.S. retail sales figures are as strong as ever, and some market participants are beginning to rethink their bets," said Daniel Ghali, commodity strategist at Dominican Securities.
However, the hedge buying boom triggered by factors such as Hong Kong turmoil and Argentine debt default fears "cannot change in a day," Ghali added.
The rise in U.S. stock markets helped the U.S. retail sales surge in July, partially alleviating the tension caused by the inversion of the bond yield curve. Historically, the inversion of the bond yield curve is a reliable signal of the impending recession.
On the other hand, U.S. manufacturing output ended two consecutive months of growth in July, and the number of new claims for unemployment benefits was also weaker than expected.


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