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Gold prices jumped more than 2% on Thursday after US President Donald Trump announced that he would impose additional tariffs on imports from China.
Trump announced today that it will impose an additional 10% surtax on imports from China, worth $ 300 billion as of September 1, to reduce tensions between the two largest economies world..
The price of gold for immediate sale increased by 2.2% to 1445.05 dollars an ounce at the end of the US market transactions..
US gold futures rose 1.37% to $ 1457.5 ounce.
Earlier in the session, the precious metal fell to its lowest level since July 17 at $ 1,400.31 an ounce, penalized by a sharp rise in the dollar after the US central bank dampened expectations regarding a new easing of monetary policy.
Low interest rates and renewed purchases from investors and central banks are expected to help gold prices boost their recent gains and stay above $ 1,400 a ounce. 39 next year, revealed a Reuters investigation..
Markets are now waiting for the latest monthly data on employment in non-farm sectors in the United States, which will be released on Friday..
Among other precious metals, palladium fell to $ 1410 an ounce earlier in seven weeks, before closing the session down 6.10% to $ 1424.00.
Platinum lost 1.28% to 848.50 dollars an ounce, while silver rose 0.43% to 16.32 dollars an ounce.
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