Quick Update on Trade Conflicts & Its Impact on Gold

Today during the Asians session, gold trimmed lower, with prices falling below the psychological level of $1,200. Fellas, this bearish...

US - China Trade War

Today during the Asian session, gold trimmed lower, with prices falling below the psychological level of $1,200. Fellas, this bearish trend in gold is coming in response to the dollar which is rising on the back of worries about escalating global trade tensions.

Two things to know about trade tensions:

  • President Trump is looking to impose tariffs on $200 billion of Chinese products, up from $60 billion.
  • On Saturday, Trump said that there was no need to keep Canada in the North American Free Trade Agreement (NAFTA) and warned Congress not to interfere with the trade negotiations.

Consequently, investors seem to move their investments into the dollar, making gold weaker against it.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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