Gold gained on Monday as fears over a trade war deepened following China’s decision to place tariffs on $60bn worth of US goods.
Gold prices rose by 1 per cent to trade at $1,298 a troy ounce, just shy of the $1,300 barrier hit last month.
Gold has benefited from renewed trade tensions between the world’s two largest economies, rising by almost 2 per cent since President Donald Trump’s threat on May 4 to increase levies on $200bn of Chinese imports.
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