Gold futures rose slightly amid trade concerns

CHICAGO, April 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed slightly higher on Wednesday, as investors showed lower appetite for risky investments after China announced tariffs on U.S. products.

The most active gold contract for June delivery rose 2.9 U.S. dollars, or 0.22 percent, to settle at 1,340.2 dollars per ounce.

China on Wednesday unveiled a list of products worth 50 billion U.S. dollars imported from the United States that will be subject to higher tariffs, including soy bean, automobiles and chemical products.

The move was taken after the U.S. administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion dollars with a suggested tariff rate of 25 percent.

The date of implementation will depend on when the U.S. government imposes the tariffs on Chinese products, the Ministry of Finance said.

The U.S. dollar index, which measures the buck against six rivals, went down 0.07 percent to 90.139 as of 2000 GMT.

Gold and the dollar typically move in opposite directions, which means if the dollar goes down, gold futures will rise.

As for other precious metals, silver for May delivery dropped 13.8 cents, or 0.84 percent, to settle at 16.254 dollars per ounce. Platinum for July went down 13.2 dollars, or 1.42 percent, to close at 918.1 dollars per ounce. Enditem