|Day's Range||137.00 - 138.55|
Investing.com – Gold prices hovered around breakeven Thursday as safe-haven demand returned as traders feared the prospect of a global trade war after President Donald Trump said the U.S. will impose tariffs on steel and aluminium imports as early as next week.
The EU and China are considering which American products to slap tariffs on in retaliation, such as Harley-Davidson motorcycles, bourbon and sorghum.
The allure of commodities as an investment is enhanced by the portfolio protection they have historically offered against inflation.
North Korea tensions aren’t what’s driving the rally in gold, Goldman Sachs said in a note on Tuesday, pinning it on Trump-inspired uncertainty.
Oil prices marched higher on Tuesday following reports indicating that Russia and Saudi Arabia are considering extending the oil production cut deal.