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Copper Rallies, Gold Settles Below $1,300 as Trade War Fears Subside

May 15, 2019 at 21:32 by Vladimir Vyun

The market sentiment stabilized, removing some of the risk premium from markets. That made gold settle below the psychologically important $1,300 level and allowed copper to rally despite negative macroeconomic data in China. But there are still plenty of geopolitical tension around the world to make investors stick to safer assets. Besides the US-China trade war, there are Brexit and the conflict between the United States and Iran.

Contract for delivery of gold in June was up 0.07% to $1,297.2 per troy ounce as of 21:11 GMT on COMEX today. Silver for delivery in July slipped 0.08% to $14.8 per ounce. Spot price for platinum was at $847.24 per ounce, while palladium traded at $1,345.25 per ounce. July copper rallied 0.84% to $2.748 per pound.

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