empty
 
 

2020.08.1810:39:00UTC+00Gold Breaks Above $2,000 Per Ounce Amid US-China Tensions

Gold prices rose about 1 percent on Tuesday and the dollar teetered near milestone lows as the U.S. stimulus stalemate continued and tensions between the United States and China escalated.

Spot gold rose 1 percent to $2,005.40 per ounce, while U.S. gold futures were up 0.7 percent at $2,012.80.

The dollar extended its decline into a fifth day as yields on U.S. Treasuries ticked lower on concerns about the pace of economic recovery in the world's largest economy. The political impasse holding up U.S. fiscal stimulus and the new restrictions on Huawei Technologies Co. aimed at cutting the Chinese company's access to commercially available chips also boosted the yellow metal's safe-haven appeal.

The Trump administration announced on Monday it will further tighten restrictions on Huawei Technologies in a bid to limit the company's access to electronic components.

"We don't want their equipment in the United States because they spy on us," President Donald Trump said in an interview on "Fox and Friends."

Meanwhile, the minutes of the U.S. Federal Reserve's last policy meeting will be out on Wednesday, with investors looking for any clues about an anticipated shift in the policy outlook.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback