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Home / Business / Gold prices up when new US-China tariffs kick in by Investing.com

Gold prices up when new US-China tariffs kick in by Investing.com



© Reuters.

Investing.com Gold prices were marginally higher on Monday morning in Asia as new tariffs started in both the US and China, marking the next step in the ongoing trade dispute between the two largest the economies of the world.

traded on Comex New York division Mercantile Exchange was up 0.2 6 % to $ 1.53 3 . 40 a troy ounce of 1 0 : 5 5 P M ET (0 2 : 5 5 GMT).

Over the weekend, customs duties of 15% for Chinese imports valued at $ 110 billion, in the same way as taxes of between 5% and 10% for a number of US goods .

Continued talks between the United States and China continued to be in service in September with several months before more tariffs on both sides come into force in December.

Meanwhile, China's economy remained under pressure. The official (PMI) for August released on Saturday came in lower than expected at 49.5 down from 49.7 in July.

However, published on Monday morning, registered an increase to 50.4 in August up from 49.9 in July. In both cases, a read over 50 extension signals.

The gain on gold remained subdued as the US dollar gained recovered somewhat lost due to recent days . During Monday morning in Asia, tracing the greenback against a basket of currencies was marginally lower down 0.08% to 98.83.

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