12-04-2019

Gold ends at a nearly 1-month high as Trump suggests China trade deal could wait till after 2020 election


Trump’s willingness to open new fronts in trade war unnerves markets

Gold futures marked their highest finish in nearly a month on Tuesday, finding haven-related buying interest after President Donald Trump said it might be preferable to hold off on completing a long-awaited U.S.-China trade deal until after the November 2020 presidential election.

Trump’s comments come ahead of a December 15th deadline for the imposition of fresh import tariffs on China.

“Economic uncertainty was sparked following comments from President Trump, which seemed to dash near term hopes of a trade deal with China,” and suggested that “trade negotiations are once again at a serious impasse,” said analysts at Zaner Metals, in a daily note.

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Author: Monetary Gold