Gold Price Rises As Dollar Weakens Amid Trade Worries

September 7, 2018

London (Sept 7)  Gold prices edged higher on Friday as the dollar fell against the yen after reports that Japan may be the next target of US President Donald Trump's trade war.

Trump reportedly told a columnist for The Wall Street Journal that he was "still bothered by the terms of US trade with Japan.

Spot gold was up 0.33% at USD1,200.82 an ounce after hitting a near one-week high on Thursday. US gold futures were up 0.22% at USD1,207 an ounce.

Traders braced for fresh announcements regarding additional US tariffs on Chinese goods after a public comment period ended Thursday.

China has already warned of retaliation if the US goes ahead with the fresh round of tariffs.

Meanwhile, after a disappointing ADP private sector jobs report released on Thursday, investors await the release of US nonfarm payrolls report due tonight for possible clues on interest rates.


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