Platinum surges as haven demand accelerates
3 years ago

Platinum prices rose today on increased haven demand on it as a precious metal amid uncertainty about the upcoming US-China trade talks round.


The US Treasury Department has blacklisted 8 Chinese tech companies today, which bans the US companies from dealing with them.


The decision increased uncertainty about the upcoming US-China trade talks round, which will begin on next Thursday and Friday, with market's expectation mounting.


The decision came contrary to what President Trump said earlier about this round of the trade talks, as he noted that China wants to reach a final deal.


Otherwise, President Trump renewed his calls for the US Federal bank to cut the interest rates more deeply to support growth.


As of 14:29 GMT, platinum spot price rose by 1.3% to $889.4 an ounce, with a session-high of $892.7 and a low of $867.7.

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