As gold prices rose to Asia in March, this was the Sino-U.S. trade war. and breed developments remain in focus.
For June, the gold income shown in the New York Mercantile Exchange Comex division grew by 0.3% to $ 1.280.75 per ounce of 1: 25ET.
During the Memorial Day Weekend, US President Donald Trump said Washington and Beijing were far from trading agreement. China’s state media are also playing the growing trade warfare between the two largest economies in the world since Beijing’s top trade negotiator, Deputy Prime Minister Liu He, returned from Washington without a deal in mid-May.
Trump and his Chinese counterpart Xi Jinping are expected to meet next month during the G-20 summit.
Tensions between the two countries further intensified with the news that the Chinese telecoms giant Huawei filed a lawsuit against the US government and challenged the constitutionality of a US law banning federal agencies buying its products.
The US dollar grew this week amid recent trade war news, but gold was not able to benefit from the news. Precious metals failed to break above $ 1,300, despite tense escalation reports between the US and China.
Golden direction in the near future may also be decided by who replaces Theresa May as British Prime Minister and if the candidate makes a more likely Brex to do, which would further weaken the pound and increase the value of gold./Investing.com