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AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.


1/14/2019: Gold edges up on China data

Source: Bill Musgrave, American Gold Exchange

Austin — Gold edged up 0.1% to close above $1,291 as stocks fell on weak China trade data and the dollar slipped, boosting demand for alternative assets.

Trade growth slowed in China last year, according to customs data released today, as the world's second-largest economy felt the bite of its tariff battle with the US. Chinese exports grew at 7.1%, down from 7.9% in 2017, while imports grew at 12.9%, down from 15.9%. Despite higher tariffs, China's trade surplus with the US rose to $323 billion in 2018, a new record.

The soft data knocked Asian equity markets lower, with the Hong Kong Hang Seng index plunging 1.2%. Wall Street was pressured it turn. The Dow fell 0.4% while the tech-heavy Nasdaq lost nearly 1%.

The dollar shed 0.1% against major rivals as the UK pound rallied ahead of tomorrow's vote on PM Theresa May's Brexit plan. The euro also edged up against the buck, and the safe-haven Japanese yen strengthened on risk-off sentiment.

The other precious metals were mostly higher, with silver and palladium adding 0.2% and 0.3%, respectively, while platinum dropped 1.9%.

At the Comex close: February gold picked up $1.80 to $1,291.30; March silver rose 3 cents to $15.69; April platinum lost $15.50 to $802.50; and March palladium gained $3.30 to $1,282, another record high.

  

Metal Ask      Change
Gold $2,239.17           Price Change Up Arrow $38.38
Silver $25.12           Price Change Up Arrow $0.30
Platinum $920.00           Price Change Up Arrow $9.64
Palladium $1,051.00           Price Change Up Arrow $22.41
In US Dollars