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