Gold climbs to one-week high trade turns risk-off

Bengaluru — Gold prices rose to their highest in more than a week on Wednesday as renewed worry over US-China trade dispute and its potential effect on global growth dented risk sentiment, stoking investors towards safe-haven assets.

MSCI’s broadest index of Asia-Pacific shares outside Japan to its lowest level since late March, tracking Wall Street’s slide. Chinese Vice-Premier Liu He will visit the US on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then. While gold has managed to gain as demand for safe-haven assets have risen, prices have not been able to significantly move up despite the given backdrop in global markets.

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