Gold On Monday Accumulated Modest Gains Even As The Buck Rose

Gold on MCX settled down -0.29% at 30528 following moves in the dollar that have weighed on the precious metal in recent weeks amid concerns about trade wars between economic superpowers and tightening monetary policy in the U.S. A strengthening dollar proved the most significant headwind for precious metals on Tuesday with one measure of the buck, the Dollar Index rising by nearly 0.1% to 94.158. 

Gold on Monday accumulated modest gains even as the buck rose, but Tuesday’s moves put the dollar gauge on pace to rise 0.1% for the week thus far. 

 The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports.

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