Gold Set A New 14-week High, Rising 19% Year-on-year, The Largest Annual Increase In 9 Years

Tencent Securities January 1 news, gold futures prices closed up on Tuesday, mainly due to tensions in the Middle East and the decline in the dollar exchange rate to support the gold price. Throughout trading throughout 2019, the price of gold hit its largest annual increase since 2010. According to the data provided by the financial information provider FactSet, calculated according to the main contract, the price of gold futures has increased by 18.9% in this year's trading, and the price of silver futures has increased by about 15.3%, both of which have been the largest since 2010 The increase was at the time when the price of gold futures rose by 29.7%, while the price of silver futures soared by nearly 84%. Throughout December and the fourth quarter of 2019, gold futures prices have risen by about 3.4%. Silver futures prices rose by 4.8% in December and rose 5.5% in the fourth quarter. Stephen Innes, chief Asia market strategist at AxiTrader, said in a research report: "The decline in U.S. Treasury yields, continued geopolitical risks, and continued uncertainty in the U.S. economy have provided gold prices before the end of the year Undercurrent support. "He also added:" But as the argument that the dollar will weaken in the 2020 election year has increased, risk hedgers have begun to flock to buy gold instead of the US dollar as a safe asset. "(Source: Tencent Securities )