U.S. markets open in 6 hours 28 minutes
  • S&P Futures

    3,819.25
    -8.75 (-0.23%)
     
  • Dow Futures

    31,247.00
    -124.00 (-0.40%)
     
  • Nasdaq Futures

    12,774.50
    -57.25 (-0.45%)
     
  • Russell 2000 Futures

    2,176.20
    -23.80 (-1.08%)
     
  • Crude Oil

    62.81
    -0.72 (-1.13%)
     
  • Gold

    1,758.70
    -16.70 (-0.94%)
     
  • Silver

    26.97
    -0.72 (-2.60%)
     
  • EUR/USD

    1.2139
    -0.0047 (-0.39%)
     
  • 10-Yr Bond

    1.5180
    0.0000 (0.00%)
     
  • Vix

    28.89
    +7.55 (+35.38%)
     
  • GBP/USD

    1.3915
    -0.0098 (-0.70%)
     
  • USD/JPY

    106.0520
    -0.1780 (-0.17%)
     
  • BTC-USD

    44,982.43
    -5,567.59 (-11.01%)
     
  • CMC Crypto 200

    891.58
    -41.55 (-4.45%)
     
  • FTSE 100

    6,651.96
    0.00 (0.00%)
     
  • Nikkei 225

    28,966.01
    -1,202.26 (-3.99%)
     

Gold Down as Investors Turn to Stocks

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Adam Claringbull

Investing.com – Gold was down on Friday morning in Asia as stock markets rose across the globe.

Gold futures edged down 0.11% at $1,874.90 by 12:48 PM ET (4:48 AM GMT)

Global stocks pushing upwards took attention away from the precious metal, with all major stock indices boosted. Germany’s Ifo survey rose to 93.4 in September, it missed the 93.8 figure predicted in forecasts prepared by Investing.com, suggesting that the European powerhouse is beginning to see a path through the pandemic emerging.

Factors pushing gold in the other direction include a rapid resurgence of COVID-19 in Europe, with the U.K. and France recording their highest yet daily new cases, U.S. President Donald Trump refusing to say whether he would agree to a peaceful transition of power should he lose the upcoming election, and higher-than-expected unemployment applications in the U.S. However, none of these were sufficient to lift gold prices up against downward pressure of the burgeoning interest in stocks.

The latest U.S. non-farm payroll data is due on Oct 2, investors are looking to it to see if there has been an improvement in the U.S. economy.

Related Articles

Oil gains but heading for weekly fall over coronavirus demand concerns

Oil Inches Up After Flat Week

Oil Rally Stutters as Demand Concerns Offset Stimulus Optimism