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Gold prices for December delivery were flat in recent trade as traders eye burgeoning civil unrest in China.
Price action
-
Gold for December delivery
GCZ22,
-0.28%
was flat at $1,753 per ounce on Comex. -
December silver futures
SIZ22,
-0.98%
were down 4 cents, or 0.1%, to $21.40 per ounce. -
Palladium for March
PAH23,
+0.53%
delivery advanced $16.20, or 0.9%, to $1,847 per ounce, while platinum prices
PLF23,
+1.31%
for January delivery rose $12.10, or 1.2%, to $999 per ounce. -
March copper
HGH23,
-0.48%
was down 2 cents, or 0.6%, at $3.609 per pound.
What’s happening
Commodity prices and U.S. stock futures were trading lower as traders are anxious about the most severe wave of unrest to rock China since the Tiananmen Square protests in 1989, according to Jim Wyckoff, senior analyst at Kitco.com.
“The marketplace is uneasy to start the trading week, as there is civil unrest in China over its strict zero-Covid policies. Reports said there were demonstrations across China over the weekend. It’s the largest show of discontent since the Tiananmen Square protests in 1989,” Wyckoff said.
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