London — Gold rose nearly 1% on Wednesday as the dollar dipped and share markets faltered after China retaliated in kind to a US move to slap tariffs on $50bn worth of its imports, raising trade-war jitters. Beijing said after Chinese markets had closed that it would impose additional tariffs on $50bn worth of US imports ranging from cars, chemicals and corn to whisky, cigars and tobacco. The dent in risk appetite sucked some strength out of the dollar, making dollar-priced gold cheaper for non-US investors and increasing the appeal of gold as a safe haven asset in times of geopolitical or economic turmoil. But capping gold’s upside were signs of still steady global economic growth, with a host of manufacturing surveys (PMIs) in many regions showing some slowing, but from lofty levels. "Political [trade-war] factors are offsetting the negative factors [for gold] of a generally improving US and global economy. We think gold is heading upwards largely because we have a weaker dollar v...
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