Gold Price Is Rising due to roiling China/US Tariff War

Bengaluru-India (Apr 8)  Gold prices rose on Friday as investors fled to safe-haven assets after U.S. President Donald Trump re-ignited trade war fears by proposing $100 billion in new tariffs on China.

Spot gold rose 0.3 percent to $1,330.18 per ounce as of 0320 GMT, and the U.S. gold futures rose 0.4 percent to $1,333.50 an ounce.

The yellow metal was up 0.5 percent so far this week. Gold on Thursday dropped to a one-week low of $1,322.40 an ounce after the United States and China signalled a willingness to negotiate their trade dispute.

However, Trump late on Thursday said he had instructed U.S. trade officials to consider $100 billion in additional tariffs on China, fuelling an already heated trade dispute between the world´s two biggest economies.

TheNews