Bengaluru — Gold prices held steady near one-month highs on Tuesday as an escalation in Sino-US trade war sent investors looking for safe-haven assets. Spot gold was mostly steady at $1,298.48 as of 0255 GMT, after hitting $1,303.26, its highest since April 11. US gold futures were down 0.2% at $1,299.20. Asian shares extended losses on Tuesday, following sharp falls on the Wall Street overnight, the yen strengthened and US Treasury yields ticked lower after Beijing on Monday announced retaliatory tariff-hike to counter Washington. “Gold is moving because people are looking to find a safe harbour in the storm while they wait for the dust to settle,” said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA. “Prices could further rise to $1,310-$1,312 if stock markets end lower. But, any sudden breakthroughs in the trade stand-off possibly could see investors stampeding for the exit as fast as they arrived.” On Monday, the metal rose 1.1% to mark its biggest one-day percentag...
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