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Felicia Tan
in
Stocks
June 9 22:15

Gold goes up in price over falling stocks

Gold prices rose on Tuesday as investors preferred safe assets amid falling stocks and are waiting for a two-day meeting of the US Federal Reserve on monetary policy, which will start later that day.
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Gold spot price rose 0.81% to US$1,708.29 per troy ounce on 18:00 SGT.
Gold fell last Friday to US$1,670.14 per ounce, the lowest level in more than a month after a surprise increase in U.S. employment, suggesting a recovery.
Traders are not considering negative interest rates in the U.S. and are now focusing on the Fed's monetary policy meeting for guidance on how the world's largest economy can recover from the coronavirus.
Meanwhile, palladium fell by 2.9% to US$1,963.99 per ounce and silver by 1.43% to US$17.60 per ounce. Platinum fell by 1.11% to US$823.42.