New Zealand shares had a slow start to the week as uncertainty building between the US and China spurred demand for defensive assets like gold, which reached an all-time high.
The S&P / NZX 50 Index fell to 11,585.62 at 50.64 points, or 0.4 percent. Thirty-one stocks dropped within the index, twelve rose, and seven remain unchanged. Turnover was $121.1 million.
Gold prices reached a record US$ 1,943.92 an ounce, and were recently at US$ 1,934 / oz, as investors poured into precious metal as last week's U.S.-China tit-for - tat consulate closures kept markets on edge.
Growing numbers of new cases of covid-19 in some countries already had investors worried about the extent of the world's recession
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