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Home / Business / Gold prices rise as new US-China rates are introduced By Investing.com

Gold prices rise as new US-China rates are introduced By Investing.com




© Reuters.

Investing.com Gold prices were marginally higher in Asia on Monday morning as new tariffs were introduced in both the US and China, the two largest economies in the world.

Traded on the Comex New York Mercantile Exchange rose 0.2 [19659004] 6 [19659004$153 3 . 40 a troy ounce of 1 0 : 5 5 M ET (0 2 : 5 [19659004] 5 GMT).

At the weekend, tariffs of 15% on Chinese imports worth 110 billion US dollars entered into force, as did tariffs between 5% and 10% on a number of US goods.

Nevertheless, talks between the US and China seem to be on track for September several months before further tariffs on both sides come into effect in December.

Meanwhile, China's economy remained under pressure. The official (PMI) for August which was released on Saturday fell lower than expected, standing at 49.5 after 49.7 in July.

The that was released on Monday morning, however, posted a rise to 50.4 in August from 49.9 in July. In both cases a value over 50 signals an expansion.

Gains from gold remained subdued when the US dollar gain lost some ground in recent days . On Monday morning in Asia, the traced the greenback against a basket of currencies slightly lower and fell 0.08% to 98.83.

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