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Gold Gains After Fresh US-China Tariffs Kick In, Hong Kong Crisis

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On Monday, gold prices gained after fresh tariffs kicked on US and China imports from September 1. Gold in international markets has scaled to prices over 6-year high, while in the domestic markets have even surpassed 40,000 levels in some of the cities. The sharp rally in yellow-metal this year has been triggered duet to the ongoing US-China trade spat, for which there is seen no resolution in near term. Further, the metal has gained safe-haven appeal as economic slowdown concerns loom.

Gold Gains After Fresh US-China Tariffs Kick In, Hong Kong Crisis
 

Spot gold traded at $1,528.31 per ounce, up 0.6% at 0048 GMT.

US gold futures were up 0.5 per cent at $1,537.70 an ounce.

The dollar index also headed lower by 0/1% against a basket of six currencies.

There can also be a law passed this week in order that Britain does not crashes out of the European Union on Oct. 31 as lawmakers in the UK are against a no-deal Brexit.

Also Hong Kong has turned to protest to gain attention from world economies as it fights for democracy in the biggest ever political crisis in almost 10 years.

In the domestic markets, 24 carat and 22 carat gold are priced at Rs. 37,660 and Rs. 38,660 per 10 gm, respectively.

GoodReturns.in

Read more about: gold dollar us china trade war
Story first published: Monday, September 2, 2019, 11:50 [IST]
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