29.05.2020 Gold Daily Analysis

29.05.2020 Gold Daily Analysis

European stock markets sold off Friday, amid nervousness over increasing Sino-U.S. tensions and ahead of President Donald Trump’s response to China's tightening of its control over the city of Hong Kong, a major financial hub. At early hours today the DAX in Germany traded 1.5% lower, France’s CAC 40 fell 1.3%, while the U.K.'s FTSE index was down 1.0%. Oil prices were under pressure Friday, after government data showed late Thursday an unexpected rise in U.S. inventories of 7.9 million barrels, backing up Wednesday’s report by the American Petroleum Institute. Earlier today, Crude Oil WTI Futures traded 3% lower at $32.69 a barrel. The international benchmark Brent contract fell 2.4% to $35.16.