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Gold prices sharply up as U.S.-China trade war escalates; U.S. dollar backs off; traders unnerved

2019-08-24 01:26:17

Gold prices sharply up as U.S.-China trade war escalates; U.S. dollar backs off; traders unnerved

Jim Wyckoff Friday August 23, 2019 11:08

(Kitco News) - Gold prices are scoring gains of over $24 an ounce in late-morning trading Friday. It appears the U.S.-China trade war has kicked into a higher gear after China announced new trade tariffs on the U.S., while President Trump retaliated in a series of threatening tweets that included one demand that U.S. businesses stop doing business with China. Trump also asked in a tweet who was the bigger enemy: China's President Xi or the Federal Reserve. All of this has unnerved the marketplace heading into the weekend. And all of this is bullish for safe-haven gold. December gold was last up $23.60 at $1,532.10.

By Jim Wyckoff

For Kitco News

jwyckoff@kitco.com

www.kitco.com

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TIME
Sydney	Tokyo	Ha Noi	HongKong	LonDon	NewYork

Gold Price at ABCBULLION Foreign exchange rates at CommonWealth Bank Foreign exchange rates at ANZ Bank

Prices By NTGOLD
We Sell	We Buy
37.5g ABC Luong Bar
5,278.90	4,858.90
1oz ABC Bullion Cast Bar
4,381.50	3,981.50
100g ABC Bullion Bar
14,060.00	12,760.00
1kg ABC Bullion Silver
1,719.90	1,369.90