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Gold Prices Gain as Escalating Trade War Sends Traders Fleeing from Equities

Monday, 26 August 2019 12:44 WIB GOLD EMAS

Gold prices rose on Monday in Asia as investors seek safe-haven from trade war fears. Gold Futures for December delivery were up 1% at $1,552.90 on the Comex division of the New York Mercantile Exchangem by 1:22 AM ET (05:22 GMT). The gains came amid China’s announcement of new tariffs on U.S. products and President Donald Trump’s demand that U.S. companies pull out of the republic. The U.S. also raised existing tariffs on $250 billion worth of Chinese goods to 30% from 25% as of October. In addition, a new round of tariffs on $300 billion in Chinese goods will be taxed at 15%, up from the current 10%. Meanwhile, in a speech at the Jackson Hole event that ended on Friday, U.S. Federal...

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Energy

Oil Prices were down on Monday in Asia after China announced late last week an additional 10% tariff on $75 billion of U.S. products, including crude. In retaliation, U.S. President Donald Trump

Precious Metals

Gold prices rose on Monday in Asia as investors seek safe-haven from trade war fears. Gold Futures for December delivery were up 1% at $1,552.90 on the Comex division of the New York Mercantile

CURRENCIES

The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic

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