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Gold Down Over Escalating U.S.-China Tensions

Published May 25, 2020 12:28AM ET
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By Gina Lee

Investing.com – Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset.

Gold futures slid by 0.47% at $1,727.40 by 12:26 AM ET (5:26 AM GMT), with the yellow metal unable to hold onto its gains from the previous session.

Stocks, which usually move in the opposite direction to gold, were mixed with Greater China stocks suffering losses on Monday.

Investor risk sentiment was down on Friday after China formally tabled national security laws for Hong Kong and Macau as the National People’s Congress opened on Friday.

Police fired tear gas and a water cannon during protests in Hong Kong on Sunday in reaction to the news.

Tensions between the U.S. and China rose after Chinese Foreign Minister Wang Yi said overnight that the U.S. was inching towards a “new Cold War” with China after U.S. President Trump threatened strong action should the laws be enacted, and the U.S. Commerce Department blacklisted 33 Chinese entities on Friday.

Gold Down Over Escalating U.S.-China Tensions
 

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Comments (4)
Mareks Boriss
Mareks Boriss May 25, 2020 4:19AM ET
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Bear beat bull! Haha where is 1800?
Pankaj Pedgaonkar
Pankaj Pedgaonkar May 25, 2020 3:55AM ET
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hmm
Kilo Byte
Kilo Byte May 25, 2020 1:14AM ET
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Economic conditions deteriorating, what better time to sell your position in stable commodities?
Jew Stealer
JewStealer May 25, 2020 1:14AM ET
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probably someone is going through hard time so they are selling
wan moti
wan moti May 25, 2020 1:14AM ET
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Holding gold
Pwr Strk
Pwr Strk May 25, 2020 12:51AM ET
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LOL... this sheet is supposed to be the other way around... everything is Bernie Sanders' initials
 
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