Bengaluru — Gold prices fell on Wednesday as the dollar firmed against the yuan after the US threatened to impose additional tariffs on Chinese goods, escalating trade tension between the world’s two largest economies. The Trump administration said on Tuesday it would slap 10% tariffs on an extra $200bn worth of goods imported from China. The news comes after Washington imposed 25% tariffs on $34bn of Chinese imports last week. Beijing responded immediately with matching tariffs on the same value of US goods exported to China. "I think the bad news [for gold] in regards to geopolitical risk is that the trade issue is already priced in," said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. Spot gold fell 0.3% at $1,250.90/oz at 3.15am GMT. In the previous session, bullion hit a one-week low at $1,246.81/oz. US gold futures for August delivery were 0.3% lower at $1,251.90/oz. The offshore Chinese yuan fell as low as 6.6918 to the dollar, down more tha...
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