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Gold Rises as Global Markets Retreat Ahead of Looming U.S.-China Trade Deadline


Thursday, 9 May 2019 18:25 WIB

GOLDEMAS


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Gold futures headed slightly higher Thursday morning as investors braced for intensifying Sino-U.S. trade conflicts, which could provide a lift to bullion amid markets stricken by international trade fears.

Gold for June delivery gained $4,10, or 0.3%, at $1,285.40 an ounce, recovering some of its losses from the previous session. The precious metal is on pace to climb for four of the past five sessions, according to FactSet data, putting it on track for a weekly gain of about 0.3% based on last Friday's settlement.

The U.S. is set to raise tariffs on some $200 billion in Chinese imports to 25% from 10% on Thursday at 12:01 a.m. Eastern Time, as the Trump administration attempts to ratchet up pressure on Beijing to strike a substantive trade agreement.

At a Wednesday rally with supporters in Florida, President Donald Trump said China “broke the deal.”

Source : Marketwatch


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