Gold steady as investors see some potential relief from the U.S. on tougher auto tariffs even as Washington continues to intensify trade tensions with China.
President Donald Trump will give the EU and Japan 180 days to agree to a deal that would “limit or restrict” imports into the U.S. of automobiles and their parts, in return for delaying new auto tariffs, according to a draft executive order seen by Bloomberg.
At the same time, Trump ratcheted up his battle with China for dominance of 5G technology networks, moving to curb Huawei Technologies Co.’s access to the U.S. market and American suppliers. Unexpectedly weak U.S. and Chinese economic numbers Wednesday have also heightened worries the trade war could weigh on the global economy.
Spot gold little changed at $1,296.90/oz at 7:24am in London.
Source : Bloomberg