Gold prices rose as renewed Sino-U.S. trade tensions amid global growth jitters and prospects of an interest rate cut by the U.S. Fed stoked safe-haven demand.
Fed Chair Powell indicated that a rate cut is likely at the Fed's next meeting as businesses slow investment due to trade disputes and a global growth slowdown.
Meanwhile, U.S. President Donald Trump said China was not living up to promises it made on buying agricultural products from American farmers.
Dealers were offering a discount of up to $20 an ounce over official domestic prices, down from $30 last week, the highest since August 2016.
No comments:
Post a Comment