Investing.com – Gold prices stabilized in Asia on Thursday as equities fell on concerns over a possible recession and developments on the Sino-USA trade front.
December delivery to the Comex division of the New York Mercantile Exchange climbed 0.2% to $ 1,551.35 a troy ounce until 1:20 am CET (05:20 GMT).
On Wednesday, a closely watched yield curve reversed, triggering fears of a possible recession. Inversion is often seen as a negative sign for the economy, as every recession in the last 50 years has preceded a previous recession.
The global stock markets dipped below this phenomenon, while gold, which is usually more attractive when yields are falling, rose.
Sino-U.S. Trading uncertainties further weighed on investor sentiment after US Treasury Secretary Steven Mnuchin refused to confirm if a planning meeting with Chinese officials would take place next month.
British Prime Minister Boris Johnson's decision to suspend parliament for more than a month before Brexit also added to the uncertainty.
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