Gold steadies as investors assess latest threat by President Donald Trump to raise tariffs on China if President Xi Jinping doesn’t meet with him at the upcoming G20 summit in Japan.
Trump told reporters at the White House on Monday that he could impose tariffs of 25%, or “much higher than 25%,” on $300 billion in Chinese goods. This comes just after Trump suspended his plans for tariffs on Mexico, boosting global equities and curbing safe haven demand for gold on Monday.
Spot gold steady at $1,329.17/oz at 9:34am in Shanghai after -1% Monday.
Source : Bloomberg