Demand for safe-haven assets rises as hopes for US-China trade war resolution fade
Bengaluru — Gold prices on Wednesday hovered near a one-month high hit in the previous session, as comments from US President Donald Trump dashed market hopes for a preliminary agreement with China, driving support for safe-haven assets.
Trump’s comments come shortly after he slapped tariffs on US steel and aluminium imports from Brazil and Argentina. The US House of Representatives approved a bill that would require Washington to toughen its response to Beijing’s crackdown on its Uighur Muslim minority, which investors fear can possibly deteriorate trade ties.
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