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Gold prices gained on Tuesday as intensifying U.S.-China trade tensions fueled investor appetite for safe-haven gold. A softer dollar was also cited as supportive.
Gold futures for August delivery on the Comex division of the New York Mercantile Exchange were up $5.70, or 0.44%, to $1,285.70 a troy ounce by 12:40 AM ET (04:40 GMT).
U.S. President Donald Trump said on Monday that he has ordered the U.S. Trade Representative to identify $200 billion worth of China goods for additional tariffs.
Trump said in a statement that the move would be in retaliation for China’s earlier decision to raise tariffs on $50 billion in U.S. goods.
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