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Gold climbs to three-week high as dollar dips
Gold prices rose on Monday as the dollar dipped against most major rivals amid persistent concerns about the US-China trade tensions.
China asserted its commitment to take all measures to defend its interests, while condemning US President Trump’s claim that China violated the Geneva trade agreement.
Otherwise, US-EU tensions deteriorated even further as Trump vowed to increase steel tariffs to 50%, with Brussels warning that such a step would hurt trade talks.
The US ISM manufacturing PMI fell to 48.5 in May from 48.7 in April, while analysts expected 49.3.
Otherwise, the dollar index fell 0.6% as of 20:28 GMT to 98.7, with a session-high at 99.4, and a low at 98.6.
On trading, gold spot prices rose 2.7% as of 20:30 GMT to $2403.8 an ounce.
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