Gold Prices Move Higher Again As US-China Trade War Sees Stocks Fall

June 12, 2019

Gold prices have moved higher today after hitting a one-week low yesterday. Renewed worries over the U.S.-China trade war and its impact on the global economy are pushing gold higher.

Stocks globally have fallen as risk aversion creeps back in as the trade war escalates, increasing the appeal of gold bullion as a hedge and safe haven.

Spot gold was up 0.8% at $1,337.10 by mid-morning (GMT), after falling to its weekly low at $1,319.35 in the previous session.

Stock markets moved lower as the warring factions in the China U.S. trade tussle engaged in another round of very heated exchanges. A new front in the deepening tensions between the superpowers is the new tech cold war and this does not bode well for an amicable resolution.

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

It is estimated that the total amount of gold mined up to the end of 2011 is approximately 166,000 tonnes.