Gold prices rose on Monday and stayed above the key $1,500 per ounce psychologic...
- Gold prices rose on Monday and stayed above the key $1,500 per ounce psychological level, as stock markets slipped on concerns about global economic growth and the U.S.-China trade dispute, triggering safe haven bids.
“We have a little weakness in the equity markets globally this morning so certainly we have continued safe haven bids for gold,” said David Meger, director of metals trading at High Ridge Futures. U.S. President Donald Trump said on Friday he was not ready to make a deal with China and called the planned September round of trade talks into question. Trump had earlier pledged to tax an additional $300 billion worth of Chinese imports, effective on Sept. 1.“Anything is possible , if the trade negotiations deteriorate further prices can go even higher,” said Miguel Perez-Santalla, vice president of Heraeus Metal Management in New York.
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