Gold prices jumped to a fresh six-year high on Monday as the announcement of new tariffs in the escalating Sino-U.S. trade war sent equity markets tumbling, and investors rushing for safe-haven assets.
Spot gold jumped 1.2% to $1,544 per ounce as of 0141 GMT, having earlier touched $1,554.56 an ounce, its highest since April 2013.
U.S. gold futures were up 1.1% at $1,554.90 an ounce.
On Friday, U.S. President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. products.
Source : Reuters