MARKET IS OPEN (closes in 8 hrs. 26 mins.)
Oct 08, 2019 08:34 NY Time
Gold and silver prices are firmer in early U.S. trading Tuesday. There are several geopolitical matters at work that have traders and investors worldwide in a bit of a risk-averse mood. December gold futures were last up $4.30 an ounce at 1,508.70. December Comex silver prices were last up $0.045 at $17.585 an ounce.
Global stock markets are still a bit wobbly, what with geopolitical issues lingering not far from the front burner of the marketplace, and which could flare up at any time. These include the U.S.-China trade war, U.S.-Iran tensions, Brexit, Hong Kong civil unrest and the Democrats working to impeach Trump. Reports overnight said German Chancellor Merkel told U.K. Prime Minister Johnson that the U.K’s Brexit deal won’t work for the European Union.
And as the U.S.-China trade talks get under way this week, the U.S. has just blacklisted 28 Chinese entities due to those firm purportedly repressing Muslims in China. Ideas are mixed on the outcome of this latest round of meetings between the world’s two largest economies. The Chinese may think they can leverage President Trump’s political problems in the U.S. to their advantage. However, Trump has “doubled-down” and said the U.S. will get a good and complete trade deal with China, or none at all.