Gold Gained After U.S. President Donald Trump Ratcheted Up Trade

Gold trading range for the day is 37614-38748.

Gold gained after U.S. President Donald Trump ratcheted up trade tensions with China, Brazil and Argentina, pushing investors to safe havens.

Trump said U.S. legislation backing protesters in Hong Kong did not make trade negotiations with China easier, but added he believes Beijing still wants a deal.

Speculators also cut their bullish positions in COMEX gold in the week to Nov. 26, data showed.

Holdings of the world's largest gold-backed ETF, SPDR Gold Trust, fell 0.7% to 889.16 tonnes, their lowest since Sept. 19.

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