Gold jumps 1% with uncertainty about trade war

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Gold rose 1%, supported by continued investor caution awaiting US President Donald Trump’s response to China’s Hong Kong National Security Law and its potential impact on the already weak global economy.And gold rose in spot transactions 0.9% to 1734.60 dollars an ounce (ounce). US gold futures rose 1.7% to $ 1750.20 an ounce.

Against the backdrop of US-China tension over several files, including a controversial Chinese bill on national security in Hong Kong, Trump announced that Washington would end Hong Kong’s special treatment because of China.”There are steps we are taking that have to do with the worrying situation in Hong Kong,” Trump said at a press conference in Washington.

Escalating concerns about the economic impact of the Corona virus, exacerbated by the growing US-China rift, and the consequent fall in interest rates globally, the precious metal, a safe haven, are pushing for a 3% monthly increase.

For other precious metals, silver rose 2.3% to $ 17.81 an ounce. On a monthly basis, prices increased 18.7%, the largest gain since January 2012.Palladium rose 0.1% to $ 1933.59 an ounce.

Platinum fell 0.9% to $ 830.92, but is on track to achieve its best monthly performance since August 2019.





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