Monday, 26 March 2018

Gold Prices Gained On A Faltering Dollar And Equities As Investors Scurried

Gold prices gained on a faltering dollar and equities as investors scurried to safety after U.S. President Donald Trump moved towards long-promised anti-China tariffs, prompting a strict response from China amid fears of a global trade war. 

Trump signed a presidential memorandum that could impose tariffs on up to $60 billion of imports from China, but only after a 30-day consultation period that starts once a list is published. 

China urged the United States to "pull back from the brink", while the Chinese commerce ministry unveiled plans to levy additional duties on up to $3 billion of U.S. imports in response to the steel and aluminium tariffs. Investor appetite for a safe-haven asset such as gold rises during times of geopolitical and financial uncertainties.

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