Gold edged higher on Monday alongside the dollar amid escalating trade tensions and recession fears. Money managers pushed bullish bets to an all-time high last week, according to CFTC data dating back to 2006.
Investors sought havens after the U.S. raised tariffs on Chinese goods, and data pointed to further weakness in China’s economy. Inflows into bullion-backed exchange-traded funds topped 100 tons in August to hit the highest since February 2013.
Markets in U.S. are closed for Labor Day.
Spot gold +0.3% at $1,524.15/oz.
Source : Bloomberg