Investing.com — Gold futures ticked up again on Thursday amid political jitters after the release of a whistleblower complaint against President Donald Trump fleshed out the allegations behind the impeachment inquiry that the House of Representatives launched against him earlier this week.
By 10:30 AM ET (1430 GMT), for delivery on the Comex exchange were at $1,516.05 up 0.2% from late Wednesday but essentially still in the range they have trade in for the last couple of weeks.
was up 0.2% at $1,509.12 an ounce.
Other haven assets were also well supported, with 10- and 30-year Treasury bond yields each falling by around three basis points, as fears of political instability outweighed reassuring language from Trump on Wednesday about the chances of a trade truce with China.
Silver futures, however, slipped back below $18 an ounce to $17.99.
There was continued support also from European government bonds, with Brexit risks keeping a lid on U.K. yields and the resignation of Germany’s Sabine Lautenschlaeger from the European Central Bank’s board removing one of the obstacles that incoming president Christine Lagarde may face to a ramp-up of the ECB’s quantitative easing.
The ECB committed itself to restart outright purchases of 20 billion euros a month of government bonds from November, a move that will depress yields and increase the relative attractiveness of gold.
Elsewhere, Bank of Japan governor Haruhiko Kuroda also hinted at further monetary easing at the BoJ’s next meeting, saying the risks of it missing its inflation target were rising.
Platinum futures rose 0.3% to $931.10 an ounce, while copper futures fell 0.6% to $2.60 a pound.
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