Spot gold was steady near $1,800 an ounce as the dollar strengthened amid fresh tensions between the U.S. and China, and with investors weighing the economic damage caused by the pandemic.

The Trump administration rejected China’s expansive maritime claims in the South China Sea, reversing a previous policy of not taking sides in such disputes and escalating tensions with Beijing on yet another front.

Spot bullion flat at $1,802.21/oz at 7:28 a.m. in London.Prices touched $1,818.02 last week, the highest level since Sept. 2011.

Silver -0.1% after +1.9% on Monday to close at the highest since Sept. 2019.Platinum +0.5%, palladium -0.3%. Bloomberg Dollar Spot Index +0.1%.

Source: Bloomberg