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Gold Futures Pare Gains but Remain High Amid Trade War Worries

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 1 min read
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Gold Futures Pare Gains but Remain High Amid Trade War Worries
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Gold futures slip. However, they hold close to multi-week highs after rallying during Monday’s session.

Futures are down 0.7% at $3,372.30 a troy ounce. They reached as high as $3,417.80/oz in the prior session. The precious metal’s Monday jump was driven by investors putting money into safe-haven assets amid renewed trade war jitters, Trade Nation’s David Morrison says.

This follows President Trump’s accusation that China violated terms of a temporary trade agreement. Beijing denied this charge. The U.S. dollar fell sharply in response as investors rushed to find sanctuary in gold, the Swiss franc and Japanese yen, Morrison says.



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