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Gold|Bearing
Gold|Bearing
gold|bearing

TRADE WAR WHIRLWIND

30th August 2019

By: Martin Creamer

Creamer Media Editor

     

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The trade war between the US and China sent the gold price up as investors sought shelter from what they figured was a gathering storm. But US inconsistency in going this way and then that may have the precious metal taking unexpected routes. At the time of going to press, gold futures rallied above $1 500/oz on sustained demand for the traditional haven, as global growth slowed and central banks eased monetary policy. Last month, the US Federal Reserve reduced borrowing costs for the first time in more than a decade, responding in part to the impact of the trade war. Lower rates boost the appeal of noninterest-bearing bullion and some expect a total of three US rate reductions this year, which could have gold investors cheering.

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