Gold price at its highest level in 6 years

The price of gold has risen more than 1% to reach its highest level in over six years on Monday, with the intensification of the trade war between China and China, as well as the fears of Global growth pushing investors to hold safe haven badets.

Spot gold rose 1.1% to reach $ 1456.51 an ounce around 7:25 am GMT, after reaching its highest level since May 2013 at $ 1459.47 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 hoped to protect the US economy from the dangers of trade policy.

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.