No immediate resolution can be seen anywhere for the ongoing Trade War between U.S. and China. And comments made by the American president, specifically labeling China as a "currency manipulator" and that fears about the war should altogether be dismissed, are definitely not helping.
And of course, the market takes the heat (or hit--either way is tragic depending on where you're standing). Take the price of Gold for example.
The price of the precious metal continuously surges as the trade war intensifies. Investors are risk-averse with the price climbed $73.72 this week, bringing it from $1,438.78 to $1,512.50 per troy ounce as of 12:40PM GMT + 8.
The December delivery saw Gold Futures jump to 2.2%, allowing it to trade at $1,522.70 per ounce. It has been a good six years since gold traded above $1,500. This brought gains to the metal of more than 18%.
Gold is the investors' go-to metal when the amount of debt trading at negative yield increases. To date, bonds with negative rates amount to $15 Trillion, making gold more attractive as it retains it value despite periods of slower economic growth.
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