Trump meets with key trade advisers, will announce a response to Chinese tariffs. Risk aversion intensifies on trade war escalation: Gold, CHF and JPY soar. Gold continues to rise sharply amid concerns about the impact of the escalation in the US-China trade war. The demand for safe-haven assets emerged over the last hours, leading to a rally in the yellow metal. China retaliates, Trump tweets and markets fear the worst The value of gold rose now almost $40 from daily lows. Recently reached $1,529.60/oz, the highest intraday level since August 13, when it traded at $1,535 the highest in six years. The bullish tone in gold and the negative momentum around the greenback remains intact, so it the metal could hit new multi-year highs soon. XAU/USD stands around $1,525; if it breaks above YTD highs, the next strong resistance is located at $1,550/55. Market focus is now on the announcements from the White House. It has been reported that Trump is with his trade team. In a tweet, Trump said US companies were “hereby ordered” to start looking for an alternative to China. The escalation in trade tensions increased the odds of more aggressive rate cuts from the Fed and weigh on the US dollar. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Without China US farm goods will have nowhere to go – Global Times FX Street 4 years Trump meets with key trade advisers, will announce a response to Chinese tariffs. Risk aversion intensifies on trade war escalation: Gold, CHF and JPY soar. Gold continues to rise sharply amid concerns about the impact of the escalation in the US-China trade war. The demand for safe-haven assets emerged over the last hours, leading to a rally in the yellow metal. China retaliates, Trump tweets and markets fear the worst The value of gold rose now almost $40 from daily lows. Recently reached $1,529.60/oz, the highest intraday level since August 13, when it traded at $1,535… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
