Gold propelled deeper into the $1,300s, rising to the highest level since June, with tension ratcheting up between the U.S. and China ahead of high-level trade talks set to start in Washington on Wednesday.
U.S. prosecutors on Monday filed criminal charges against Huawei Technologies Co., accusing China’s largest technology company of stealing trade secrets. Meanwhile, President Donald Trump is expected to meet China’s top trade negotiator, with the talks to cover U.S. demands for structural changes to China’s economy. A Federal Reserve policy decision is due on Wednesday.
Spot gold as much as +0.4% to $1,308.41/oz, highest level since June, and at $1,307.98 at 8:23 am in London.
Source : Bloomberg