6 August
Gold prices rise as trade tensions intensify — Reuters
Gold prices climbed to $3,326 per ounce on Monday as escalating trade tensions drove investors toward safe-haven assets, Reuters reports.
A spike followed US President Donald Trump’s threat to hike steel and aluminum tariffs to 50%, which drew a retaliatory warning from the European Commission, according to the agency.
Tim Waterer, chief market analyst at KCM Trade, noted that risk assets struggled at the start of the week, while gold gained support from a 0.2% decline in the US dollar index and heightened trade uncertainties.
Market participants are scrutinizing Federal Reserve officials’ speeches for hints on monetary policy direction. Low interest rates and geopolitical instability are boosting gold's appeal, a trend highlighted by Reuters analysts.
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