Gold held its ground near $1,300 an ounce after rising the most in more than three months as investors assessed the U.S.-China trade war, with the world’s biggest economies planning yet more tit-for-tat tariffs.
Spot gold steady at $1,298.62/oz at 10:15am in Singapore; +1.1% on Monday, most since Jan. 25. Bloomberg Dollar Spot Index +0.1% after +0.2% on Monday.
China said on Monday that the country will raise tariffs on $60 billion of U.S. goods starting June 1, in retaliation for earlier hikes from Washington. In addition, the U.S. has released a list of another $300 billion worth of Chinese goods that President Donald Trump has threatened to hit with a 25% tariff.
Source : Bloomberg