Gold hits multi-year highs as trade war escalates

Gold futures jumped above $1,500/ounce on strong demand for the safe haven as global growth skids and central banks ease their monetary policy.

Aug 07, 2019 05:08 IST India Infoline News Service

Gold prices touched a high of more than six years on Wednesday, thanks to the heightened worries regarding the ongoing trade dispute between China and the United States.

Gold futures jumped above $1,500/ounce on strong demand for the safe haven as global growth skids and central banks ease their monetary policy.

The precious metal rose as much as 1.2% to $1,502.30/ ounce on the Comex, the highest level since 2013. This year, the preicious metal rose 17% so far.

MCX Oct-4 Futures are trading higher by 0.54% at Rs37,699/10gms.

Silver Sep-5 Futures are also up 1.3% at Rs43,055/kg.


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