Platinum rebounds, shakes off dollar five-day winning streak

2019-11-25 11:05:24 GMT (Economies.com)
Platinum rebounds, shakes off dollar five-day winning streak

Platinum prices tilted higher during the Asian session on Friday, to continue rebounding from the lowest since August 28 for for the seventh session in 9, shrugging off the US dollar's rebound from its lowest since November 5 for the sixth straight session, despite the inverse relation between them, ahead of US Fed Governor Jerome Powell's speech at Rhode Island, amid the recent developments in the US-China trade file. 

 

Platinum rose by 0.48% to $896.10 an ounce as of 05:17 GMT, after opening at $891.80, while the US dollar index rose by 0.1% to 98.27 after it opened at 98.26. 

 

The US National Security Adviser Robert O'Brien said on Saturday that a trade agreement with China can be secured before the end of this year, while investors are parsing the odds for Washington to freeze its upcoming $156 billion tariffs hike on Chinese goods by December 15.

 

While China announced it will raise penalties on intellectual property violations, in the latest sign that renewed hopes for easing the trade dispute, and the US President Donald Trump noted on Friday that a trade deal is "very close."

 
 
 
  Symbol Last Change Chg.%
1.0168
-0.0051
0.5010%
1.2064
-0.0040
0.3338%
19.839
-0.411
2.032%
89.330
2.069
2.371%
95.09
1.49
1.59%
1769.795
-11.890
0.667%
 
 
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