Gold prices hit new highs on China’s tariff retaliation

Gold prices hit new record highs on Tuesday due to safe-haven demand following China’s announcement of retaliatory tariffs on US goods. Traders are also monitoring important jobs data scheduled for release this week.

Spot gold prices increased at 02:20 PM GMT by 0.63 per cent to $2,832 per ounce, compared to the previous closing price of $2,814.69.

Meanwhile, US gold futures fell 0.38 per cent to $2,846.31, compared to Monday’s closing of $2,857.1.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama

Leave a comment