Gold Set For Weekly Gain as U.S. Hikes China Tariffs
Friday, 10 May 2019 15:59 WIB | PRECIOUS METALS |GOLDEMAS
Gold is set for the second weekly advance in three as the U.S. hiked tariffs on more than $200 billion in goods from China on Friday ahead of the second day of crucial trade deal talks between the U.S. and China.
China immediately said it would be forced to retaliate, but didn't specify how, adding it hoped to resolve issues with the U.S. through cooperation and negotiations with efforts from both sides. The move came after discussions between Chinese President Xi Jinping's top trade envoy and his U.S. counterparts in Washington made little progress on Thursday, with the mood around them downbeat, according to people familiar with the talks.
President Donald Trump insisted Thursday it was still possible to reach a deal this week, saying he had received a œbeautiful letter from Xi and that the two leaders would probably speak by phone.
Spot gold holds gains at $1,284.54/oz at 7:32am in London; +0.4% this week.
Source : Bloomberg
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