Gold was little changed amid renewed concerns over global trade tensions after the U.S. proposed tariffs on roughly $2.4 billion of French products.
This was in response to a tax on digital revenues that hits large American tech companies including Google, Apple Inc., Facebook Inc. and Amazon.com Inc. Also adding to the uncertainty: the looming Dec. 15 deadline on the next round of levies on China. Commerce Secretary Wilbur Ross warned that President Donald Trump will go ahead with those if there’s no deal with Beijing.
Still, there could be some headwinds for bullion after a pickup in factory data in China and Europe signaled that global growth could be stabilizing, although that was countered by an unexpected decline in U.S. manufacturing.
Spot gold little changed at $1,463.44/oz at 9:40am in Singapore.
Source : Bloomberg