Gold Rises Amid Heightened Trade Tensions

Tuesday, 3 December 2019 17:40 WIB



Gold prices tick higher in a sign of risk aversion among investors, after the U.S. threatened tariffs against France, Brazil and Argentina.

The precious metal is up 0.1% at $1,471.20 a troy ounce in the New York futures market, and silver, palladium and platinum are also higher.

Daniel Briesemann, an analyst at Commerzbank, says gold prices are also being lifted by news of surging imports in India. The country's gold imports jumped 78% from October to November, Reuters reports, citing an anonymous government official. "The fact that gold prices in India have fallen somewhat in recent months presumably contributed to the rise in imports," Briesemann says. Up ahead, gold traders will follow the NATO summit in London.

Source : Bloomberg


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