12th November marked a crazy day for the stocks market and precious metals market as the whole world waited for Donald Trump’s speech at the Economic Club of New York yesterday. The markets were reviewing and adjusting their position in the market on their own. The main reason why the market was eagerly waiting for the speech is that this would have been an excellent way for them to get an idea about the U.S.-Chian trade war situation.
Precious metal market still steady
The U.S.-China trade war has been stressful for the countries as people were worried about the investments they were making. Some people ditched traditional haven like gold and moved to cryptocurrencies and altcoins. The speech given by Trump yesterday was expected to be focused more on the trade war situation, but not much was revealed.
This shift in the market lead to a steady demand for gold and other precious metals, and even cryptocurrencies witnessed a stable market for the day. The markets have been optimistic about the trade war for now and hope that the issue will be resolved soon. The ongoing protests in Hong Kong will also affect the whole situation, and any escalations would help in boosting the price of precious metals higher.
Current Gold Price
The gold price in the market has increased in the past 24 hours as the asset witnessed a rise of 0.5% since yesterday. Currently, gold is trading at $1462.10, and the price is going bullish as the trading volume increases as well.