Gold jumps to highest level in seven months
Markets are cautious before three major macro events and a swathe of big tech company earnings in the coming days
London — Gold climbed to a seven-month high on Tuesday as markets opted for caution before three major macro events and a blizzard of big tech company earnings in the coming days, starting with Apple later. Despite the upcoming action — a key Brexit vote in the UK, Wednesday's US Federal Reserve decision and Thursday's conclusion of the latest Sino-US trade talks — European and Asian stocks held up relatively well. London's FTSE rose 1% and Frankfurt and Paris both made some ground. Utilities and other safety plays benefited from a series of US profit alerts, including from digger maker Caterpillar, overnight. News that the US had levelled charges against China's telecom giant Huawei days before the next round of trade talks between Washington and Beijing knocked sentiment. But it was offset by promises of more economic stimulus from China, which had berated Washington on Monday for blocking the appointment of judges for its World Trade Organisation appeal against US tariffs. Amid t...
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