Sunday, 21 January 2018

Gold up on safe haven buying after US govt shutdown




Gold prices outskirt up on Monday amid a softer dollar as lender sought safe haven assets after the US government shutdown due to a funding dilemma. 

Funding for federal company ran out at midnight on Friday, and was not renewed amid a dispute between US President Donald Trump and Democrats over immigration. 

Republican and Democratic chief of the US Senate held talks on Sunday searching to break an impasse that has kept the US government shut down for two days, but it was unclear if a deal could be battered to reopen federal company by the start of the work week

Republican Senator John Cornyn predicted on Sunday that the US government would remain shut on Monday, as lawmakers meet to negotiate an end to the impasse, Fox News Channel reported. 

Flows of palladium out of UK stocks to Hong Kong are picking up as demand from Asian industry grows, pointing to a tightening market that could keep record-high prices on the boil. 




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