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Precious metals trade higher as uncertainty surrounding Brexit

2019-10-21 09:17 am | Resource: News | No Views : 35

 Precious metals trade higher  as uncertainty surrounding Brexit

Precious metals traded with gains on Monday as uncertainty surrounding Brexit, the US-China trade war and fears of a global economic slowdown continued. In Britain, Prime Minister Boris Johnson is competing round the clock to gather support for his deal on Brexit, where MPs postponed a vote on the deal over the weekend. Johnson will push for a meaningful new vote today.

Meanwhile, the first trade agreement between Washington and Beijing is signing the deal at the Asia-Pacific Economic Cooperation (APEC) forum in November.

On the other hand, Japan reported weak export data, which fell 5% year-on-year while the Chinese economy continued to slow, according to data released earlier.
Wall Street shares rise and focus on Brexit

Wall Street shares traded on the green market on Monday as the Brexit is still in focus. British lawmakers adopted the Litwin amendment on Saturday, which forced Prime Minister Boris Johnson to demand a postponement of Britain's exit from the European Union. At the same time, the US reportedly withdrew its troops from its largest base in Syria amid a ceasefire between Turkey and Kurdish forces.

SAP said on Monday its third-quarter revenue was 6.79 billion euros, an increase of 13% over the same period last year. Halliburton is expected to release earnings later today.
  • The Dow rose 0.28% or about 70 points at 4:36 am EDT.
  • The Nasdaq 100 jumped 0.35% at the same time.
  • The S&P 500 rose 0.34%. The euro was almost flat against the dollar, trading at 1.11758 at 4:36 am ET.

Precious Metals Trading
  • Gold rose 0.11% to 1,492.11 an ounce at 9:06 AM CET.
  • Silver jumped 0.93% to 17.71 an ounce.
  • Meanwhile, platinum rose 0.46% to 894.33 an ounce.
  • Palladium sister rose by 0.98% to reach 1,773.14 an ounce.


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