Bengaluru — Gold prices climbed on Monday after US President Donald Trump threatened to raise tariffs on Chinese goods, escalating China-US trade tensions, which prompted risk-off sentiment and boosted safe-haven assets. Spot gold was up 0.3% at $1,282.51/oz, as of 5.57am GMT. US gold futures were up 0.2% at $1,284/oz. “We have seen a bit of a risk-averse move this morning in Asian trading following the comments from Trump over the weekend regarding the US-China trade deal,” ANZ analyst Daniel Hynes said. “Certainly that has induced some safe-haven buying in gold and has jolted the [gold] market back into action.” US President Donald Trump on Sunday announced he would hike tariffs on $200bn worth of Chinese goods this week. He also said he would target a further $325bn of Chinese goods with 25% tariffs “shortly”. This is a considerable shift in stance from the past week where he heralded that trade talks between the two countries were going “pretty well”. The comment dented global s...
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