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08-May2019

Gold futures end higher as sell off in stock markets

Gold futures ended higher on Tuesday as sell off in stock markets after a US threat to hike tariffs on Chinese imports renewed trade tensions and improved demand for safe-haven bullion. US President Donald Trump said the higher levies would take effect on Friday if no trade deal with China was sealed, which triggered a global sell-off in equities and inflamed fears of a slowdown in global growth. However, a firmer US dollar index limited some gains.

Gold futures for June delivery settled up 0.1% at $1,285.60 an ounce on the Comex division of the New York Mercantile. Spot gold was up 0.3% to $1,284.45 per ounce.


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