Gold peaks in six years because of trade and growth

(Reuters) – Gold prices jumped more than 1% to reach their highest level in more than six years on Monday, with the intensification of the trade war between China and China, as well. that fears of global growth that have led investors to safe havens.

Spot gold rose 1.1% to $ 1,456.51 an ounce around 7:25 am GMT, after reaching its highest level since May 2013 at $ 1,459.47 earlier in the session.

Gold futures in the US rose 0.8% to $ 1468.50 an ounce.

On Friday, China said it would react to US President Donald Trump's decision to impose a 10% surtax on Chinese imports, worth $ 300 billion.

The Federal Reserve may need to raise interest rates more than it would have hoped to protect the US economy from trade policy risks.

The yellow metal was backed by bringing the dollar index down to its lowest level in a week, thus reducing the cost of gold for investors of non-dollar currency holders.

For other precious metals, silver rose 1.9% to $ 16.51 an ounce, while platinum rose 1.4% to $ 854.33.

Palladium rose 1% to $ 1,420.60 an ounce.

(Reuters)