Bengaluru — Gold prices rose to a five-week high on Monday as the threat of a trade war between the US and China weighed on the dollar and equity markets, driving investors to seek refuge in safe-haven assets. Spot gold rose 0.1% to $1,348.66/oz at 4.19am GMT. Price rose to as much as $1,350.76/oz, the highest since February 19. Gold rose 2.6% last week, its biggest weekly gain since September 2017. US gold futures for April delivery fell 0.1% to $1,348.80/oz. The fear of a trade war between the US and China battered Asian shares again on Monday, keeping the safe-haven yen near a 16-month peak. The dollar index, which measures the greenback against six major currencies, was down 0.1% at 89.39. Last week US President Donald Trump signed a memorandum that could impose tariffs on up to $60bn of Chinese goods, while China declared plans to levy additional duties on up to $3bn of US imports in response to US tariffs on steel and aluminium. "It’s hard not to stay long gold with geopolitic...
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