Bengaluru — Gold prices came under pressure on Wednesday as news that the Trump administration has plans to propose higher tariffs on Chinese goods stoked demand for the dollar. The dollar edged up on the yuan and growth-leveraged currencies after a source said on Tuesday that the White House was about to propose a 25% tariff on $200bn of imported Chinese goods after initially setting them at 10%, sparking a new round of trade hostilities in the US-China tariff spat. A stronger dollar makes greenback-denominated gold more expensive for holders of other currencies. Spot gold was down 0.1% at $1,221.78/oz at 3.53am GMT, after gaining slightly in the previous session. US gold futures were about 0.2% lower at $1,221.90%. The slight uptick in gold prices on Tuesday night came from safe-haven demand, but the weakness this morning was predicated on the dollar, OCBC analyst Barnabas Gan said. "The trade tensions are also fuelling safe-haven flows into the dollar. The greenback still appears...
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