MARKET CLOSE: NZ shares fall as simmering US-China tensions push gold to record

Mon, 27 Jul 2020

New Zealand shares had a soft start to the week as building tensions between the US and China stoked demand for defensive assets such as gold, which hit an all-time high. The S&P/NZX 50 Index declined 50.64 points, or 0.4 percent, to 11,585.62. Within the index, 31 stocks fell, 12 rose, and seven were unchanged. Turnover was $121.1 million. Gold prices hit a record US$1,943.92 per ounce, and were recently at US$1,934/oz, as investors piled into the precious metal as the tit-for-tat consulate closures between the US and China last week ke...

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