Spot gold prices rose by 1.6 percent as rising chances of a potential recession amid escalating trade tension between U.S. & China boosted the appeal for the bullion metal. Prices were further supported after the yields on U.S. 30 year bond declined by 27 basis points in this week. Falling yields weighed on the Dollar and pushed the Gold prices higher.
The prolonged tension between U.S. and China seems to be never ending. However, situations got better after the United States said it would delay tariffs on some of the Chinese products. The super power nations might resume with their trade negotiations but investors might have a cautious approach as an actual deal might take time.
The prolonged tension between U.S. and China seems to be never ending. However, situations got better after the United States said it would delay tariffs on some of the Chinese products. The super power nations might resume with their trade negotiations but investors might have a cautious approach as an actual deal might take time.
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