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Gold Gets Modest Lift As U.S. Slaps Tariffs On Steel, Aluminum Imports

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(Kitco News) - Gold prices moved from modestly lower levels to modestly higher levels on the day Thursday following news the U.S. plans to implement steel and aluminum import tariffs. The trade-protectionist moves by the U.S. have put a bit of new anxiety in the marketplace, mainly due to worries about an escalation of the U.S. trade dispute with several of its major trading partners. Gains in gold have been limited, however, as the U.S. dollar index has moved off of its daily low and is trading just slightly down on the day. Solidly lower crude oil prices today are also working against the precious metals market bulls. August gold futures were last up $2.60 an ounce at $1,309.10.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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