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Direct: Gold prices boosted gains Monday, extending their rise above the $ 1,500 mark, due to trade tensions and growing fears of a slowdown in global economic growth.
The yellow metal managed to move closer to the green band as the US dollar erased gains after the session began with losses of about US $ 7 related to the strength of the green paper and the recovery of the markets. fellows before reversing the trend later.
On the trade front, US President Donald Trump said on Friday that he was not ready to reach an agreement with China.
Meanwhile, White House economic adviser Peter Navarro said the US is considering another round of trade talks with Chinese negotiators next month.
Goldman Sachs said yesterday that the risk of recession is increasing due to China's trade war with China. It also lowered expectations for US economic growth in the fourth quarter.
Last week, gold had gained more than $ 50 as metal became more and more attractive and provided a safe haven from trade frictions.
In gold, gold futures for December delivery rose 0.6%, or $ 8.70, to $ 1,517.20 an ounce, after reaching $ 1,498 in gold. Ounce early in the session.
At 17:35 GMT, the spot price for the yellow metal increased 0.6%, or $ 9.10, to $ 1,056.05 an ounce.
During the period, the dollar index, which tracks the performance of the US dollar against the six major currencies, reached only 0.06% at 97.434, after reaching the level of 97.738 previously.
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