Gold prices climbed on Monday after U.S. President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-U.S. trade tensions, which prompted risk-off sentiment and boosted safe-haven assets.
Spot gold was up 0.3 percent at $1,282.51 per ounce, as of 0557 GMT. U.S. gold futures were up 0.2 percent at $1,284 an ounce.
"We have seen a bit of a risk-averse move this morning in Asian trading following the comments from Trump over the weekend regarding the U.S.-China trade deal," ANZ analyst Daniel Hynes said.
"Certainly that has induced some safe-haven buying in gold and has jolted the (gold) market back into action."
United States President Donald Trump on Sunday announced he would hike tariffs on $200 billion worth of Chinese goods this week. He also said he would target a further $325 billion of Chinese goods with 25 percent tariffs "shortly".
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