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Gold futures settle higher on safe-haven buying

Xinhua,March 23, 2018 Adjust font size:

CHICAGO, March 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on safe-haven buying Thursday, as traders expressed their fears for possible trade war between the United States and China.

The most active gold contract for April delivery went up 5.9 dollars, or 0.45 percent, to close at 1,327.4 dollars per ounce.

U.S. President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to 60 billion U.S. dollars of imports from China, the latest unilateral move that poses a threat to global trade.

Analysts note that the safe haven properties of the precious metal were appealing to investors, giving support to gold during the trading session.

As for other precious metals, silver for May delivery fell 3.2 cents, or 0.19 percent, to settle at 16.387 dollars per ounce. Platinum for April was down 1.5 dollars, or 0.16 percent, to close at 949.1 dollars per ounce. Enditem

 

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