The Evergrande crisis increases gold luster with the return of fears

The Evergrande crisis increases gold luster with the return of fears
The Evergrande crisis increases gold luster with the return of fears

Gold compensated some of its losses today, Friday, after falling 1% in the previous session, supported by the weakness of the dollar and the return of concerns about the fate of the Chinese company Evergrande to the fore, which strengthened the status of the yellow metal as a safe haven.

Spot gold rose 0.7% to $1,754 an ounce, while US gold futures rose 0.3% to $1,755.10.

The dollar index remained near a one-week low during the previous session, making gold cheaper for holders of other currencies.

As for other precious metals, silver rose 0.8% to $22.66 an ounce, up 1.2% so far this week. And palladium rose 1% to 2003.27 dollars, but it is on its way to incurring its third consecutive weekly loss.

In contrast, platinum fell 0.6% to $983.29 an ounce, but it is on its way to end two consecutive weeks of decline.

 
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