Gold Prices Mixed Amid Trade Worries, Rate Hike Views

September 10, 2018

New York (Sept 10)  Gold prices were trading mixed on Monday, tracking a firmer dollar after US President Donald Trump threatened new tariffs on $267bn of Chinese goods and a strong jobs report reinforced the view of further interest rate increases by the Federal Reserve.

Spot gold was marginally higher at USD1,193.82 an ounce after declining 0.4% in the previous session. US gold futures were down 0.13% at USD1,198.80 an ounce.

Trade tensions remain in focus after Trump suggested he might impose tariffs on virtually all imports from China. He called on Apple to move production from China to the US to avoid suffering the consequences of his trade war with Beijing.

The August employment report, which included 201,000 new jobs, showed a surprise rise in wages, helping keep the Fed firmly on track to raise rates at policy meetings this September and December.


Silver Phoenix Twitter                 Silver Phoenix on Facebook