Gold down as Japanese equities rise on news of stimulus plan

Play into risk assets supports risk appetite and diminishes appeal for metal in short term, analyst says

Pure gold ore is shown on the stone floor of a mine. Picture: 123RF/PHAWAT KHOMMAI

“There still seems to be the broad issue of gold prices trying to break too far above the 1,740, 1,750 mark.”Japan is considering fresh stimulus to the value of more than $929bn, which mostly consists of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper reports. Japan’s Nikkei jumped 1.5% after the report.

The proposed national security legislation for Hong Kong could lead to US sanctions and threaten the city’s status as a financial hub, White House national security adviser Robert O’Brien said on Sunday.

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