London — Gold steadied off last week’s six-month low on Monday as concerns over a global trade war ratcheted higher after a report said the United States plans to bar Chinese companies from investing in its technology firms. A stronger dollar kept the pressure on prices, however. The US Treasury Department is crafting rules that would block firms with at least 25% Chinese ownership from buying US companies involved in "industrially significant technology", the Wall Street Journal reported on Sunday. This was the latest escalation in a global trade war that has seen China and the United States threaten billions of dollars’ worth of tariffs on each other’s imports. The standoff between the world’s two largest economies threatens to limit global economic growth, analysts said, but could benefit gold which can shine in time of economic and political turmoil. Danske Bank analyst Jens Pedersen said the risk-off mood was being seen in the commodities space on Monday. "Today on a relative g...
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