Bengaluru — Gold prices rose on Friday as investors fled to safe-haven assets after US President Donald Trump re-ignited trade war fears by proposing $100 billion in new tariffs on China. Spot gold rose 0.3% to $1,330.18 per ounce as of 03.20am GMT, and the US gold futures rose 0.4% to $1,333.50 an ounce. The yellow metal was up 0.5% so far this week. Gold on Thursday dropped to a one-week low of $1,322.40 an ounce after the US and China signalled a willingness to negotiate their trade dispute. However, Trump late on Thursday said he had instructed US trade officials to consider $100bn in additional tariffs on China, fuelling an already heated trade dispute between the world’s two biggest economies. "Just when you thought it was safe to go back in the water, President Trump orders USTR to consider $100bn in additional tariffs confirming the view that trade war rhetoric is unlikely to leave the picture anytime soon," said Stephen Innes, head of trading in Asia-Pacific for OANDA in Si...
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