Investing.com – Gold prices rose on Thursday in Asia as stocks traded lower due to long-standing concerns about a potential economic downturn and developments in China's trading front.
for December delivery on the New York Mercantile Exchange's Comex division climbed 0.2% to $ 1,551.35 per troy ounce by 1:20 AM ET (05:20 GMT).
On Wednesday, a carefully monitored yield curve was reversed, raising fears of a potential recession. The inversion is often seen as a negative sign for the economy as every recession over the past 50 years has been preceded by it.
Global stock markets fell amid the phenomenon, while gold, which usually becomes more attractive amid falling returns.
Chinese-American. Trade uncertainty sparked further investor sentiment after US Treasury Secretary Steven Mnuchin refused to confirm whether a planning meeting with Chinese officials would still happen next month.
However, Mnuchin said he believes a meeting with China will still happen, even if he did not say when.
In addition to the uncertainty was British Prime Minister Boris Johnson's decision to suspend Parliament for more than a month before Brexit, which means Parliament will not sit between mid-September and mid-October.
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