Gold extends gains into third day, as dollar falls against yen
The metal is also benefiting from fear about the next round of US-China tariffs, and from increased physical buying due to low prices
Bengaluru — Gold extended gains on Friday as the dollar fell against the yen. That move in currency markets came after a report suggested US President Donald Trump would next take up trade issues with Japan. Investors also feared a new round of China-US tariffs could come at any moment. Spot gold was up 0.2% at $1,202.14 at 2.19am GMT, after it hit a nearly one-week high on Thursday at $1,206.98, and headed for a third straight session of gains. US gold futures rose 0.3% to $1,208.0 an ounce. The dollar declined further against the yen following a CNBC television report on Thursday that Trump had told a Wall Street Journal columnist he might take on trade issues with Japan. "The stronger yen versus dollar is leading to some buying in gold…. The recent low of around $1,160 in August is really the bottom in gold for now," said Yuichi Ikemizu, Tokyo branch manager, ICBC Standard Bank. "The next moves will mostly depend on the employment data tonight and the September Federal Reserve me...
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