Gold Rallies As Global Stock Markets Sink Amid China Trade Retaliation
Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
(Kitco News) - Gold prices are posting solid gains and have poked back above the key $1,300.00 level in mid-morning dealings Monday, at the same time other commodity and global stock markets are accelerating lower after China announced just a while ago said it will be raising tariffs by 5% to 25% on about $60 billion of U.S. goods. China may stop buying some U.S. agricultural products altogether, according to news reports coming out of China. World markets were already jittery to start the trading week after failed China-U.S. trade talks last Friday dented worldwide investor and trader risk appetite. June gold futures were last up $12.40 at $1,299.80.