Written by Swati Verma (Reuters) – Gold rose on Wednesday because the US greenback, Treasury yields and Asian shares tumbled after Fitch downgraded the US triple-A credit standing, souring confidence within the economic system and boosting curiosity in safe-haven bullion. Spot gold rose 0.3% to $1,949.49 an oz. by 0553 GMT, whereas US gold futures rose 0.4% to $1,986.50. After Wall Avenue’s shut on Tuesday, Fitch downgraded the US authorities’s credit standing from AAA to AA+, citing monetary deterioration over the following three years and an rising burden of basic authorities debt. (usd/) (us/) Edward Meir, a metals analyst who

Asian shares fell on Wednesday after Wall Avenue reversed an enormous rally as markets tried to soak up a slew of earnings. Japan’s Nikkei 225 rose 2.1% in afternoon commerce, to 32,768.08. Australia’s S&P/ASX 200 fell 1.3% to 7,356.60. The Kospi index in South Korea fell 1.7 p.c to 2,620.74 factors. Hong Kong’s Hold Seng fell 2.1% to 19,590.86, whereas the Shanghai Composite misplaced 0.9%, to three,259.93. Investor optimism was dampened by Fitch Scores’ downgrade of the US authorities’s credit standing, citing rising debt on the federal, state and native ranges. The ranking on Tuesday was downgraded one notch to