Tuesday, 4 June 2019

Gold Prices Rose As Heightened Sino-U.S. Trade Tensions

Gold trading range for the day is 32165-32661.

Gold prices rose as heightened Sino-U.S. trade tensions and Washington's threat of tariffs on Mexico stoked worries of a global recession.

Tensions between the United States and China escalated during the weekend as the two countries clashed over trade, technology and security.

Hedge funds and money managers increased their net long positions in COMEX gold in the week to May 28, data showed.

Indicating improved investor interest in gold, holdings of SPDR Gold Trust, rose 0.32 percent to 743.21 tonnes on Friday from Thursday.

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