Gold inches higher after US tariff hike
Gold on track for weekly rise as US tariff increase on $200bn worth of Chinese goods takes effect
Bengaluru — Gold prices edged higher on Friday, drawing support from increased trade tensions after US President Donald Trump’s tariff increase on $200bn worth of Chinese goods took effect, putting the bullion on track for a weekly gain. Spot gold was up 0.2% at $1,286.25/oz at 4.50am GMT and is up about 0.6% for the week. US gold futures were steady at $1,286.90/oz. US President Donald Trump’s tariff increase to 25% on $200bn worth of Chinese goods took effect on Friday, and Beijing said it would strike back, ratcheting up tensions as the two sides pursue last-ditch talks to try salvaging a trade deal. Top US and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington goes ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China. “There is still some level of uncertainty surrounding the US-China trade deal, and when gold tends to go down there seems to be ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.