Gold edges up on concerns about US-China trade tensions

Bengaluru — Gold edged higher on Friday and was en route for a weekly gain, supported by trade concerns after the US hiked tariffs on Chinese goods in the middle of crucial trade talks between the two countries.

The US escalated a tariff war with China on Friday by hiking levies to 25% for $200bn worth of Chinese goods, and Beijing said it would strike back. The tariff hike came in the middle of two days of talks between top US and Chinese negotiators. “Stock markets are rebounding despite Donald Trump’s tariffs on $200bn worth of Chinese imports, confirming that investors are still trying to keep alive the bullish sentiment,” Carlo Alberto De Casa, chief analyst with ActivTrades wrote in a note.

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