Gold increased slightly in Asia on Friday amid rising tensions between the US and China over Hong Kong's new national security law.
Today, the focus of the market is on the National People 's Congress.
Oil prices continue to move upward, reacting to the publication of positive weekly data from the US Department of Energy.
On Thursday, gold is trading at a 0.5% decline amid a USD recovery. Gold becomes more expensive for foreign investors.
The U.S. Senate approved a bill stated that Chinese companies may be forced to refuse to register on U.S. stock exchanges.
The oil market today is holding positions in the positive territory, responding to reports of a decrease in oil reserves of 4.8 million barrels according to API data.
Gold continues to regain lost ground amid weakening USD and a decreased risk appetite of investors.
On Wednesday, investors appetite for risk is declining amid reports from medical news site STAT questioning the effectiveness of the experimental vaccine from Moderna.
The oil market is on a decline today, nervously anticipating the WTI June contract expiration.
On Tuesday, gold prices are trying to restore lost positions due to the ongoing tension in Sino-American relations and weakening USD. But, due to increased hopes for an early implementation of the COVID-19 vaccine and a faster recovery of the global economy, the demand for protective assets remains limited.
