Bengaluru — Gold prices jumped 1% to their highest level in more than six years on Monday, as the escalating trade war between the US and China along with global growth worries drove investors towards safe-haven assets.
On Friday, China said it will fight back against US President Donald Trump’s decision to impose an additional 10% tariff on $300bn worth of Chinese imports. Lower interest rates decrease the opportunity cost of holding non-yielding bullion, and weigh on the dollar.
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