MTECHTIPS;-Gold Prices Gain as Trump Considers Imposing Tariffs on $ 200 B in Chinese Goods

MTECHTIPS;-Gold Prices Gain as Trump Considers Imposing Tariffs on $ 200 B in Chinese Goods MTECHTIPS-Gold prices gained on Friday as reports that U.S. President Donald Trump was considering plans to impose tariffs on $200 billion in Chinese imports as soon as next week weighed on market sentiment. Gold futures for December delivery was at a trading price of $1,211.5 per troy ounce, up by 0.6%, at 1:10 AM ET (05:10 GMT) on the Comex division of the New York Mercantile Exchange. The precious metal remained on track to record their longest monthly losing streak since 2013 despite today’s gains. “As $1,200 is always a psychological level, there will be some battle to regain that ... It is going to be critical whether prices are going to close above or below that level today,” said Brian Lan, managing director at dealer Gold Silver Central in Singapore. The U.S. Dollar Index, which tracks the dollar against a basket of other currencies, gained 0.04% to 94.68. Gold prices have declined about 7.7% so far this year amid geopolitical events including global trade concerns and the recent Turkish lira crisis, with investors preferring the dollar as a safe-haven MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips WWW.MTECHTIPS.COM 07489294118-119
Published on Aug 31 2018 4:47PM, by MTECHTIPS in Commodity tips| Share This




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