Gold advanced as a stock slump resumed in Asia, President Donald Trump hinted at imposing more trade tariffs on China, and investors tracked tensions in energy markets after Saudi Arabia threatened to retaliate against any punitive measures over the disappearance of journalist Jamal Khashoggi.
Bullion for immediate delivery as much as +0.4% to $1,222.43/oz, and trades at $1,221.92 at 1:05pm in Singapore. Price +1.1% in each of past two weeks. Bullion hit $1,226.42 on Oct. 11, highest since July 31.
Bullion capped the first back-to-back weekly gain since April last week, trading above $1,200 an ounce, as concerns about the impact of a burgeoning trade war triggered a sell-off in U.S. stocks, which spread to Asia and Europe. On Monday, Brent climbed as much as 1.9 percent.
Source : Bloomberg