Gold rises, investors move into safe assets after stock slump

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Gold contracts closed up last night (September 20). Investors bought gold as a safe haven after stock markets fell in the U.S. and around the world. Amid concerns over the default of China’s real estate developer Evergrande Group.

Gold futures rose $12.4, or 0.71%, to $1,763.8/ounce.

Silver prices fell 13.3 cents, or 0.6%, to $22.204 per ounce.

Platinum contracts fell $31.4, or 3.37%, to $899.2/ounce.

Palladium prices fell $118.60, or 6%, to $1,865.20/ounce. This is the lowest closing level since January 2020.

Stock markets in the U.S. and around the world fell after Evergrande admitted in a statement that it had liquidity problems and might not be able to pay its debts as planned. Analysts warn that Evergrande’s default will worsen the financial crisis, which could jeopardize the global economic recovery.

Investors are closely watching this week’s Federal Reserve (Fed) monetary policy meeting for signs of a trend toward tapering bond purchases.

Earlier, the Fed Chairman had indicated that he was likely to begin tapering this year.

The Spot Market is Open

Tuesday, September 21, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
13.47
1,761.60
1,762.60
-2.40
-0.14%
1,760.60
1,767.10
Silver
13.46
22.26
22.36
+0.02
0.09%
22.21
22.43
Platinum
13.45
914.00
924.00
+9.00
0.99%
905.00
927.00
Palladium
13.46
1,836.00
1,986.00
+30.00
0.99%
1,806.00
1,989.00
Rhodium
07.33
11,800.00
13,800.00
-200.00
-1.67%
11,800.00
14,000.00
Energy
Updated at

Price

Change

%Change
Crude oil
13.46

71.18

+0.89

1.27%

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