Gold closes near its lowest level this year

Gold prices fell today as the dollar stabilized against most of the majors, despite the current trade tensions between the United States and the European Union.

As US officials announced a close trade deal with China, US President Donald Trump opened a new trade-war front with the European Union.

The European Commission announced today a list of US imports worth about 20 billion euros that could be targeted by tariffs, in response to a possible US decision.

This comes as Trump threatened to impose tariffs on $11 billion worth of European Union products, as the European Union continues to support Airbus at the expense of its American rival, Boeing.

Meanwhile, at 17:53 GMT, the dollar index stabilized at 97.02 points, reaching a high of 97.1 points and a low of 96.8 points.

Gold futures (June delivery) fell by ¢40 cents and closed at $276.8 an ounce. The precious metal hit a high of $1282.1 and a low of $1275.2.