Gold prices stay above $ 1,500 for reasons of trade and growth

Tuesday, August 13, 2019
– Hi.
No
Number [
14868]

London: "Middle East"

Gold prices held up weak activity during Monday's holiday and surpbaded the high level of $ 1,500, buoyed by uncertainties surrounding the US-China trade war and fears of a slowdown in business. global economic growth.
By 1330 GMT, spot gold was up slightly, to 1504.87 dollars an ounce. US gold futures were valued at $ 1508.10 an ounce and many Asian markets, including Singapore and Japan, were closed on Friday.
On Friday, US President Donald Trump said he was not ready to reach an agreement with China and even questioned a series of trade talks in September. However, Peter Navarro, the White House's trade advisor, said the United States was considering holding a new round of trade talks with Chinese negotiators.
Earlier this month, Trump announced he would impose 10% tariff on September 1 on China's remaining $ 300 billion worth of imports. China must stop buying US agricultural products.
Last week, the United States also accused China of handling the currency after Beijing allowed the yuan to fall below the seven yuan mark for every dollar.
The escalation of the trade war between the two largest economies in the world has resulted in a sharp increase in the price of gold, which has risen by about 6% since the beginning of the month.
Goldman Sachs warned of a growing risk of recession, highlighting concerns over the devastating effects of the trade war. The bank said it was no longer expecting a trade deal before the 2020 US presidential election.
For other precious metals, silver fell 0.1% to settle at 16.93 dollars an ounce. Platinum rose 0.3% to $ 861.29 and palladium rose 1.4% to $ 1,425.88 an ounce.

United Kingdom

D & # 39; gold