Gold edges higher (2019-09-12)

Thursday, 12 September 2019

BENGALURU, Sept 11 (Reuters): Gold rose on Wednesday, supported by lingering concerns over the global economy and US-China trade tensions, but still held close to a four-week low touched last session amid a broader uptick in risk-sentiment ahead of major central bank meetings.
Spot gold was up 0.5 per cent at $1,492.20 per ounce as of 1137 GMT. Prices fell to their lowest since Aug. 13 at $1,483.90 in the previous session.
US gold futures were up 0.1 per cent at $1,500.10 an ounce.
"Prices are up very marginally, gold is still under pressure. We are at a month low around the $1,490 level because of improvement in risk appetite," Capital Economics analyst Ross Strachan said.
"The fact that we are at the bottom end of the range over the past month or so is attracting some interest, but we are also seeing partial recovery in bond yields in recent days, which is a bearish factor for gold in the short term," Ross added.