Metals: Gold nears record high on Trump’s China comments – ING
Source Fxstreet
Gold rose close to a record high late last week after Donald Trump signalled a less aggressive approach to China, ING's commodity analysts Warren Patterson and Ewa Manthey note.
Trump pushes Gold higher
"In a TV interview last week Trump said he would 'rather not have to use' tariffs against China. His comments weighed on the US Dollar (USD) and lifted Gold prices higher. Although renewed USD strength this morning following escalation between the US and Colombia is providing some headwinds to Gold in early morning trading."
"Trump’s softer tone towards China also pushed Copper and other base metals higher last week. Copper climbed to a two-month high above $9,300/t in Friday’s session after Trump’s comments have eased trade concerns, at least for now."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
Gold Price Trend Forecast: Expectations of Easing US-Iran Tensions Boost Gold Prices, $4,070 Becomes Key Level for Bulls and BearsAs of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
As of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
The USD/JPY enters a bullish consolidation phase during the Asian session on Wednesday and holds steady above the 163.00 mark, near its highest level since 1986 set the previous day.
Related Instrument
