Gold Prices Slips Despite Escalating U.S.-China Trade Tensions
Gold prices rose on Friday as the U.S. dollar fell after lower than expected economic data
• A modest USD retracement/risk-off mood extends some support. • Fed rate hike expectations keep a lid on any meaningful up-move.
Gold prices climbed on Tuesday morning in Asia, driven in part by an escalating currency crisis in Argentina. The peso hit a record low on Monday and President Mauricio Macri vowed to employ “emergency” measures to resolve the crisis.
Gold prices edged up on Wednesday after falling as much as 1 per cent in the previous session, but Sino-US trade tensions continued to drag on the precious metal.