· Gold eased on Monday in holiday-thinned trade as some investors took profits, though lingering U.S.-China tensions and extensive stimulus measures by governments worldwide limited decline.
· Spot gold fell 0.3% to $1,728.55 per ounce by 1:58 p.m. EDT (1758 GMT). U.S. gold futures fell 0.5% to $1,727.40. Most markets were closed in the United States, Britain and some Asian countries for public holidays.
· "With all the uncertainties going on in the world and governments injecting money into their economies and interest rates going lower, gold specifically has a good possibility to test new highs sooner than later," said Afshin Nabavi, senior vice president at precious metals trader MKS SA.
Profit taking, lack of volume and follow-through on the upside were weighing on gold on Monday, Nabavi added.
· European shares gained on optimism over easing lockdowns and signs of more stimulus for the euro zone economy.
· Last week, gold climbed to its highest since October 2012, driven by monetary and fiscal stimulus, recession fears and U.S.-China tensions.
· Trade war tensions are on the rise, which should continue to support gold prices over the short term, Stephen Innes, chief market strategist at financial services firm AxiCorp, said in a note.
· Beijing's proposed national security legislation for Hong Kong could lead to U.S. sanctions, White House National Security Adviser Robert O'Brien said on Sunday.
· China's gold imports via Hong Kong in April plunged 176% to -10.3 tonnes versus the previous month, data showed on Monday.
· SPDR Gold Trust holdings rose 0.4% to 1,116.71 tonnes on Friday, while speculators increased bullish positions in COMEX gold contracts in the week to May 19.
· Palladium gained 2.3% to $1,991.50 per ounce, while platinum rose 0.6% to $844.75, and silver rose 0.1% to $17.20.
Reference: Reuters
Thai
Eng