The uncertainty over US-China trade talks, developments in the global market and talks surrounding recession are some of the key reasons that have triggered a rise in prices of gold, reported Business Today.
Trade Tensions
Gold Prices Hold Firm on Trade, Growth Concerns
Gold Silver Reports (GSR) – FUNDAMENTALS — Scrap gold supplies in India, the world’s second-biggest consumer of bullion, may increase this quarter as a rally in local gold prices has prompted consumers to sell old trinkets and jewellery.
Trump may impose auto tariffs as early as next week: German magazine
The report recommends 25 percent duty on car imports from all countries except Canada and Mexico. There will be no exceptions for certain car types. …
Trump Looks to Expand Tariffs to All Chinese Goods
Gold Silver Reports (GSR ) – Trump, in an interview with the Wall Street Journal published Monday, said he’s prepared to impose tariffs on a final batch of $267 billion of Chinese shipments if he can’t make a deal with Xi when they meet at the Group of 20 meeting in Argentina, which starts Nov. 30. The rate could be either 10 percent or 25 percent, Trump said.
Gold Futures Slip 0.14% on Weak Global Cues – Gold Silver Reports
In futures trading at Multi Commodity Exchange, gold for delivery in October was down Rs 42, or 0.14 per cent, to Rs 30,800 per 10 gram in a business turnover of 177 lots.
China commerce minister says there is no winner in a trade war: RTRS
China commerce minister says U.S.’s unilateralism, protectionism will hurt global economy, does no good to any country: RTRS China commerce minister says cooperation between China and U.S. is the only correct choice on trade: RTRS
Trade Tensions and the Fed Shift the Market – Gold Silver Reports
Has the stock market reached a turning point? While such moments are incredibly difficult to call—most investors would do well to avoid trying to time the market—a few signals have appeared suggesting a shake-up among the leaders and laggards may be afoot.
Sensex Jumps 130 Points, Nifty above 10,980 Ahead of Modi Government No-Confidence Vote
Gold Silver Reports (GSR) – Indian benchmark indices BSE Sensex and NSE’s Nifty 50 gained on Friday as the Parliament will debate the no-confidence motion tabled by opposition parties against the Narendra Modi government.
Food Prices Crack Due to Trade War Tensions
Gold Silver Reports (GSR) – In India, the government’s decision to hike minimum support prices (MSPs) has raised the prospect of higher food inflation. But global food inflation may head the other way thanks to fears of an escalating trade war, if data from June is any indication.
China Shunning U.S. Soybeans on Trade Tensions
Gold Silver Reports (GSR) – China Shunning U.S. Soybeans on Trade Tensions — “Whatever they’re buying is non-U.S.,” Bunge Ltd. Chief Executive Officer Soren Schroder said in a telephone interview Wednesday. “They’re buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S.”