On Monday, spot gold ended higher by 0.69 percent to close at $1530.3 per ounce. Rising tension between U.S. & China amid falling Euro zone manufacturing sector PMI signalled towards a potential global slowdown and boosted the appeal for the safe haven asset, Gold.
Last week. U.S. & China trade tiff further escalated after U.S. imposed further tariffs on $125 billion worth of Chinese imports while China hikes the tariffs on the targeted $75 billion with of U.S. imports.
China also imposed 5 percent tariffs on US crude targeting fuel for the first time since inception of the ugly trade spat. However, both the countries will still meet later this month to resolve the protracted trade tiff.
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