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Gold Up as Dollar Slips Against Yen on Trade Jitters


Friday, 7 September 2018 18:16 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold steadied on Friday as the dollar slipped versus a currency basket despite fears over looming China-U.S. trade tariffs, and as investors turned their attention to U.S. payrolls data due later.

The public consultation period for proposed U.S. tariffs on an additional $200 billion of Chinese imports ended at 0400 GMT Friday. Tariffs could go into effect at any moment, though there is no clear timetable.

The dollar has gained considerably from global trade tensions but slipped off two-week highs this week, helping gold stabilise. A weaker dollar makes dollar-priced gold cheaper for non-U.S. investors.

Spot gold edged up 0.1 percent to $1,201.04 as of 1020 GMT, after it hit a near one-week high on Thursday at $1,206.98, and was headed for a third straight session of gains.

U.S. gold futures rose 0.2 percent to $1,206.70 an ounce.

Source : Reuters


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