Gold Sees a Slight Dip, Trade Tensions Still Dominate - Forex News by Strategia Forex
Gold - XAU/USD

Gold Sees a Slight Dip, Trade Tensions Still Dominate

Posted Tuesday, September 3, 2019 by
Arslan Butt • 1 min read

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

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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