Gold Sees a Slight Dip, Trade Tensions Still Dominate

On Tuesday, gold prices slipped lower over a strengthening in the US dollar, even though concerns of the trade war causing a global economic slowdown dominate in the market. At the time of writing, GOLD is trading at a little above $1,523 after the US dollar index touched the highest level in over two years.

The recent escalation of the US-China trade war seems to be making matters worse for global financial markets, with stock markets tumbling lower. Gold continues to remain supported over concerns of the next move in the trade war.

On Monday, the Chinese Commerce Ministry confirmed that it has lodged a complaint against US tariffs at the WTO. This latest move indicates that a trade deal keeps getting further and further away. This could keep gold’s safe haven appeal strong in the markets for some time to come.

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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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