Gold held near a two-week low as the latest twists in the U.S.-China trade war fanned support for the dollar.
Spot gold -0.1% at $1,276.10/oz in London.Price reached $1,273.71 on Monday, lowest since May 3.
Beijing’s ambassador to the European Union warned of the potential for retaliation after President Donald Trump blacklisted Huawei Technologies Co. Gold still stands to benefit if U.S.-China relations deteriorate, although that may be offset by diminished Asian demand, Citigroup Inc. said. The dollar’s recent strength has been the primary driver capping bullion, the bank said.
Source : Bloomberg