Gold’s Rise Continues While Markets Worry About the Trade War - Forex News by FX Leaders

Gold’s Rise Continues While Markets Worry About the Trade War

Posted Wednesday, August 7, 2019 by
Arslan Butt • 1 min read

Gold continues to become dearer over worries that the US-China trade war could escalate further. At the time of writing, the precious metal GOLD is trading at a little above $1,486.

Leading investment banks have already cautioned against the trade war being drawn out for a long time and possibly even pushing the world into a recession by 2020. According to Goldman Sachs, a trade deal between US and China could be delayed until after next year’s Presidential elections.

The Federal Reserve, meanwhile, has stated that it will take a wait and watch approach to see how the latest developments impact economic data coming out of the US before deciding on whether to cut rates again.

White House Chief Economic Adviser Larry Kudlow stated on Tuesday that the next round of in-person meetings between the trade teams of the two countries is still on schedule for September, as far as the US government is concerned. Trump maintains his interest in hosting the Chinese trade delegation to continue with negotiations.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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