Bengaluru — Gold prices edged up on Thursday, lingering near one-week highs hit in the previous session on political tension between Britain and Russia and as worry over a potential trade war dragged on stocks and the dollar. Spot gold rose 0.2% to $1,326.83/oz at 4.31am GMT. US gold futures for April delivery rose 0.1% to $1,327/oz. "Gold has been supported by geopolitical factors as well as dollar weakness.… Stock markets were down overnight, we’ve got a bit of risk-aversion coming back in," said a Hong Kong based trader. He declined to be identified as he was not authorised to speak with media. The US dollar fell against the yen and pulled further away from a recent two-week high, while stock markets slipped broadly as lingering worries about global trade tensions weighed on investors appetite for risk. The Trump administration is pressing China to cut its trade surplus with the US by $100bn, a White House spokeswoman said on Wednesday, clarifying a tweet last week from President...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.