Wednesday 15 January 2020
Cairo – Agencies:
The price of gold rose globally on Wednesday, as investors sought safer assets in light of the uncertainty about the impact of the one-stage trade agreement between the United States and China, according to Reuters.
A US official said the duties imposed on Chinese goods will remain in force, according to the agency.
And gold increased in immediate transactions 0.3% to $ 1550.60 an ounce.
And US gold futures gained 0.4% to $ 1551.
The US Treasury Secretary, Stephen Mnuchin, said that the duties imposed on Chinese goods will remain in effect until the completion of the stage two agreement, a day before the world’s two largest economies prepare for a temporary trade agreement.
The maintenance of the fees would reduce the economic benefits of the one-stage agreement by restricting China’s access to one of its largest trading markets, according to the agency.
Gold increased 18% in the past year, mainly due to the 18-month customs dispute, and its impact on the global economy.
Asian stocks fell as Manuchin’s comments negatively affected risk appetite.
Investors are awaiting with interest the details of the one-stage agreement to be announced later today, Wednesday.