Metals: Gold nears record high on Trump’s China comments – ING
Source Fxstreet
Gold rose close to a record high late last week after Donald Trump signalled a less aggressive approach to China, ING's commodity analysts Warren Patterson and Ewa Manthey note.
Trump pushes Gold higher
"In a TV interview last week Trump said he would 'rather not have to use' tariffs against China. His comments weighed on the US Dollar (USD) and lifted Gold prices higher. Although renewed USD strength this morning following escalation between the US and Colombia is providing some headwinds to Gold in early morning trading."
"Trump’s softer tone towards China also pushed Copper and other base metals higher last week. Copper climbed to a two-month high above $9,300/t in Friday’s session after Trump’s comments have eased trade concerns, at least for now."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threatsGold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Bitcoin's recent fall to $91,800 signals a leverage reset, not a panic-driven sell-off, with $233 million in long positions liquidated.
Gold nears $4,700 record as US–EU trade war fears ignite haven rushGold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
Related Instrument
