Gold, silver prices gain on keener marketplace uncertainty

12 December
Kitco News:

Gold and silver prices are moderately higher in early U.S. trading Tuesday. The safe-haven metals are benefiting from world stock markets that are this week seeing buying interest squelched by more uncertainty ahead of two key events. February gold futures were last up $6.80 an ounce at 1,471.60. March Comex silver prices were last up $0.068 at $16.71 an ounce.

Asian and European stock indexes were mostly weaker overnight. The U.S. stock indexes are pointed toward lower openings when the New York day session begins. Risk aversion has crept up early this week. Next Sunday (Dec. 15) is the deadline for the imposition of new tariffs on Chinese imports into the U.S. If those new tariffs are allowed by President Trump to go into effect, then the U.S.-China trade war would likely escalate and no partial trade deal would be in sight, most believe. The keener uncertainty as the deadline approaches is likely to keep market participants leery the rest of this week. There is no real consensus on what will happen before Sunday, which makes the marketplace even more cautious.

 

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