Gold prices extend gains as US-China trade war escalates
Gold prices extend gains as US-China trade war escalates
Gold prices extended gains on Thursday, driven by an escalating trade war between the United States and China, even after President Donald Trump announced a 90-day pause on tariffs for other countries.
Spot gold was up 0.9% at $3,110.69 an ounce at 0816 GMT, after its biggest daily gain since October 2023 on Wednesday. U.S. gold futures were up 1.5% to $3,126.70.
"We're just living in a world of extreme uncertainty. We just don't really know which way this trade war is going to go ... I think for the course of this year, gold will march higher," said Nitesh Shah, commodities strategist at WisdomTree.
