Gold futures trade up on US-China trade escalations

Gold futures traded higher on Monday, after new tariffs were imposed by the United States and China came into force, raising concerns about recession and global economic growth slow down, buoyed the safe heaven bullion investments.

 

Meanwhile, softer dollar made the yellow metal cheaper for other currency holders adding the upside.

Gold futures for December were up 0.5% at $1,537.70 an ounce on the Comex division of the New York Mercantile. While, spot gold was 0.6% higher at $1,528.31 per ounce.

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