Today Bullions Report : 20.11.2019
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Bullion counter may remain on positive path as gold prices rose on Wednesday on heightened worries that a Sino-U.S. trade deal could hit a snag after President Donald Trump threatened fresh tariffs on Beijing and as the U.S. Senate passed a bill supporting Hong Kong anti-government protesters.
The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, Trump said on Tuesday.
Gold can move higher towards 38300 while taking support near 38000 and silver can test 45000 while taking support near 44600. The U.S. Senate, in a unanimous vote, passed legislation on Tuesday aimed at protecting human rights in Hong Kong amid China's crackdown on a pro-democracy protest movement that has gripped the vital financial centre for months.
The move was condemned by Beijing. The U.S. Fed has interest rates at the appropriate level for the U.S. economy but risks to the economic outlook are still tilted downwards, New York Fed President John Williams said on Tuesday.