Gold prices rose yesterday along with equities as the US dollar softened, with markets showing little worry over the latest escalation in the US-China trade war.
Spot gold climbed 0,4 percent to $1 202,32 an ounce by 0656 GMT.
US gold futures were up 0,3 percent at $1 207 an ounce.
China and the United States plunged deeper into their trade feud on Tuesday after Beijing added $60 billion in US products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion in Chinese goods.
“The US decision to impose a 10 percent tariff – as opposed to a 25 percent one (expected) – has encouraged investors in the sense there could be hope for a future compromise on trade,” said John Sharma, an economist at National Australia Bank.
Gold prices have declined about 12 percent since April, hurt by the intensifying US-China trade dispute and on rising US interest rates. — Reuters.