Share

Gold prices arise as U.S.-China trade tensions intensify

BENGALURU (Reuters) – Gold prices rose early Tuesday, upheld by a weaker dollar and a drop in Asian bonds as a trade squabble between a United States and China intensified.

FILE PHOTO: A section of bullion is seen on an artisanal trader’s table in Tarkwa, Ghana, Sep 16, 2015.REUTERS/Matthew Mpoke Bigg/File Photo

FUNDAMENTALS

** Spot bullion XAU= was adult 0.3 percent during $1,281.45 an unit by 0046 GMT.

** U.S. bullion futures GCcv1 for Aug smoothness were also 0.3 percent aloft during $1,283.80 per ounce.

** The dollar index .DXY, that measures a greenback opposite a basket of 6 vital currencies, was down 0.2 percent to 94.646. [USD/]

** Asian bonds extended a tellurian downturn on Tuesday, while a safe-haven yen rose as U.S. President Donald Trump threatened new tariffs on Chinese products in an sharpening tit-for-tat trade fight between a world’s dual biggest economies that has rattled financial markets. [MKTS/GLOB]

** Trump threatened on Monday to levy a 10 percent tariff on $200 billion of Chinese goods.

** The United States and South Korea have concluded to postpone a corner troops practice scheduled for August, South Korean and U.S. officials pronounced on Monday, following Trump’s oath to finish “war games” after his limit with North Korean personality Kim Jong Un final week.

** The U.S. economy “appears to be in a flattering good place” that should let a Fed continue a solid module of lifting seductiveness rates, Atlanta Federal Reserve bank boss Raphael Bostic pronounced on Monday, yet he feels usually one some-more such boost is indispensable this year.

** Higher U.S. rates are rattling many rising markets in most a same approach past tightening cycles did, though a Federal Reserve’s hawkishness could also move hearten for a tiny organisation of Asian economies that wouldn’t mind saying their currencies weaken.

** Most supervision bond yields in a euro section were solid to a hold reduce on Monday, capped by a European Central Bank’s signalling final week that it will keep seductiveness rates low good over a finish of a impulse scheme.

** Syrian state media pronounced on Monday that U.S.-led bloc aircraft had inebriated a Syrian army position nearby a Iraqi border, causing deaths and injuries, though a U.S. troops denied it was responsible.

Reporting by Karen Rodrigues in Bengaluru; modifying by Richard Pullin

Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/rcR0B7p2kyg/gold-prices-rise-as-u-s-china-trade-tensions-intensify-idINKBN1JF047

Loading...

Best Wordpress Plugin development company in India     Best Web development company in India