Lower-Risk Pockets: Refuge Asset and Growth Downgrades

lower-risk pockets: Concerns regarding the Chinese economy, weak growth and political tension in the Eurozone, Brexit and lingering global trade tensions are weighing in on market sentiment and the dollar is once more sought after as a refuge asset, according to Market Watch. As a result, April gold GCJ9, 0.17% lost 6.60, or 0.5%, to settle at 1,311.90 an ounce. It appears that, facing growing uncertainty, investors are once more seeking refuge in the North American currency, said Ricardo Evangelista, senior analyst at Active Trades. It fell 0.3% last week, but has climbed 2.9% since the end of last year based on the most-active contract as uneasy trade progress, grouped with a series of global growth downgrades, sent investors to seek cover in lower-risk pockets of the financial markets. The ICE U.S. Dollar IndexDXY, 0.01% a measure of the U.S. currency against a basket of six major rivals, was up 0.5% at 97.10 trading at its highest since mid-December as gold futures settled Monday. The SPDR Gold Shares ETF GLD, 0.21% fell 0.5% in Monday dealings. (news.financializer.com). As reported in the news.