On Wednesday, spot gold ended higher by 0.37 percent to close at $1552.4 per ounce. Prices rose after the 10-year U.S. Treasury yields dipped to a three-year low reinfusing worries over a potential global slowdown.
U.S. Treasury yields declined after the benchmark 10-year yield declined to its lowest levels since July 2016. The fall in the yields came after U.S. manufacturing data posted its first contraction in 3 years on rising worries about weakening of global economy and U.S.-China trade tensions.
Recent developments in Hong Kong boosted the risk sentiments amongst after the region’s leader Carrie Lam withdrew a controversial extradition bill which had led to the months of violent protests.
Moreover, investors might further mover towards riskier assets after U.S. & China agreed to meet in early October 2019 to come up with a deal and end the prolonged tariff spat.
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