Gold holds near six-year highs as the U.S.-China trade conflict shows no sign of abating, spurring fears over global growth and currency volatility.
President Donald Trump said Friday it would be “fine” if the next round of trade talks are called off. Money managers have raised bullish bets on bullion to the highest since 2016 amid haven demand as investors anticipate currency devaluations, easing monetary policy and headwinds to economic growth.
Spot gold steady at $1,496.10 by 9:42am in Singapore, after +3.9% last week. Prices touched $1,510.46 on Wednesday, the highest since April 2013.
Source : Bloomberg