This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/business/467284-trade-asia-markets-gold/

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Gold jumps to 6+ year high, Asian markets slide on Trump’s trade war carnage fears Gold jumps to 6+ year high, Asian markets slide on Trump’s trade war carnage fears
(about 2 hours later)
Asian markets have sank pushing the gold to record in six years highs, as panicked investors seek safe havens for their assets after President Trump proved he is ready to further escalate the raging US-China trade war. Asian markets have sunk, pushing the value of gold to a six-year high as panicked investors seek a safe haven for their assets after President Donald Trump proved he is ready to escalate the raging US-China trade war.
Gold tested the $1,550 level Monday morning – the highest since April 2013 and a 20 percent surge this year alone – as the trade war between Washington and Beijing intensified over the weekend, sending stocks, bonds and commodities tumbling down. Gold tested the $1,550 level on Monday morning – the highest since April 2013 and a 20-percent surge this year alone – as the trade war between Washington and Beijing intensified over the weekend, sending stocks, bonds and commodities tumbling down.
As a result, Asian markets opened deep in red. Japan’s Nikkei was down over  2 percent as Hong Kong’s Hang Seng s lumped by over 3 percent. Meanwhile, the Shanghai Composite fell by 1.4 percent, just as Australia’s S&P/ASX 200 dropped by 1.5 percent. As a result, Asian markets opened deep in the red. Japan’s Nikkei was down over two percent as Hong Kong’s Hang Seng slumped by over three percent. Meanwhile, the Shanghai Composite fell by 1.4 percent, just as Australia’s S&P/ASX 200 dropped by 1.5 percent.
“With signs of economic turmoil, we have seen a shift towards safe haven assets like gold,” Madhavi Mehta, analyst at Kotak Securities Ltd, told Live Mint. “Gold and the equity market generally have a negative correlation, so with increasing uncertainty about global equities, optimism about gold has risen.”“With signs of economic turmoil, we have seen a shift towards safe haven assets like gold,” Madhavi Mehta, analyst at Kotak Securities Ltd, told Live Mint. “Gold and the equity market generally have a negative correlation, so with increasing uncertainty about global equities, optimism about gold has risen.”
Think your friends would be interested? Share this story!Think your friends would be interested? Share this story!