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Gold price hits six-year high as geopolitical crises scare markets – business live

Rolling coverage of the latest economic and financial news, as resource tolls are hit by Argentina currency crash and Hong Kong protests

Gold pops $1,523 per ounceAsian sells fall

8.15 am BST

Stock sells across the Asia-Pacific region have fallen into the red today, as investors ditch shares.

Hong Kong’s Hang Seng descended 2% to its lowest level since January, as the ongoing skirmishes between protestors and police unnerved markets.

Chinese approvals advocated the Hong kong residents protests are the “first signals of terrorism”.

Dropping the “T” word is particularly disturbing as it does suggest a more aggressive mainland response, which prompted a curve of gamble aversion across global markets.

7.57 am BST

Good morning, and therefore welcomed our wheel coverage of the international economy, the financial markets, the eurozone and business.

Investors have a lot to worry about today, with a currency crisis in Argentina, mass demoes in Hong kong residents, and abundance of signals that the global economy is slowing.

“It is a quite straight forward case of hazard distaste. Crisis in Argentina and political deterioration in Hong Kong; underlying all of this, global growth is slowing.

“Central banks can only do so much because a lot of them are at near record low interest rates. There is not a lot of ammunition to deploy as bar measures to the slowdown in global growth.”

Argentina and various other developing nations have come under originating pres over their high levels of foreign currency debt. The US dollar has appreciated in cost as the US Federal Reserve has promoted interest rates, which has induced it more expensive for these countries to repay their dollar-denominated debts.

Macri, the son of a self-made construction tycoon, had realized “zero inflation” awareness-raising campaigns donate before he came to power in 2015. In world it has risen to more than 50% as the peso has weakened.

Related: Argentinian peso dashes as centre-left win election primary

Related: Hong Kong airport rallies: flight chaos as Carrie Lam warns of ‘path of no return’

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Source: theguardian.com

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