Gold Prices Benefit From Trump's Trade War

Gold prices are pushed to the highest this month as investors flock to its safe haven due to US and China's ongoing trade war. Also, US President Donald Trump appointed diplomat and attorney, John Bolton as his new national security advisor.

Gold prices increased as much as 2.1% this week overseas, the highest since 16 February. This will affect gold rates in India too.

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It started midweek with the US Federal Reserve raising its benchmark lending rates by 25 bps. Gold prices moved further as China and US's trade war created concerns on slowing down global growth.

Meanwhile, the Bloomberg dollar spot fell by 0.6% and equity markets in Asia as well as the US plunged after the tariff decision.