Gold Silver Reports (GSR) – Gold prices edged up on Monday as a buoyant euro kept the dollar off its 11-month highs, with trade issues between the United States and the European Union further supporting the bullion.
FUNDAMENTALS
Spot gold was up 0.3 per cent at $1,271.79 an ounce, as of 0059 GMT. US gold futures for August delivery were 0.2 per cent higher at $1,273.60 per ounce.
US President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 per cent tariff on all US imports of European Union-assembled cars.
Read More: Gold Extends Gains on Jeweller Buying, Positive Global Cues
The euro on Monday kept the dollar away from an 11-month high, with trade issues between the United States and the European Union seen deciding the near-term direction for the currencies. The single currency was lifted after Friday’s upbeat German and French business activity data and fresh assurances by Italian politicians that their nation would not leave the single currency. – Neal Bhai Reports (NBR)
Comments are closed.