Gold rises as Trump threatens to increase tariffs on Chinese goods

Amman, Gold price rose on Monday after U.S. President, Donald Trump, threatened to impose tariffs on Chinese goods, indicating a dramatic deterioration in Sino-U.S. trade talks, according to Reuters.

The statistics showed that spot gold rose 0.3 percent to $1,282.96 per ounce, while U.S. gold futures were up 0.2 percent to $1,283.70 an ounce.

On Sunday, Trump dramatically increased pressure on China to reach a trade deal by announcing he would hike tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon.

Gold is used as a safe-haven investment in times of geopolitical or global economic turmoil.

Source: Jordan News Agency