PRECIOUS-Gold firms as U.S.-China trade impasse fuels safe-haven demand [Reuters]
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Source: Reuters
PRECIOUS-Gold firms as U.S.-China trade impasse fuels safe-haven demand May 13 (Reuters) - Gold prices steadied on Monday as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for safe-haven assets. FUNDAMENTALS * Spot gold gained 0.1% to at $1,286.59 per ounce at 0113 GMT. * U.S. gold futures were steady at $1,287.90 an ounce. * The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any “bitter fruit” that harmed its interests. * Washington had already hiked tariffs on $200 billion worth of Chinese exports on Friday, while U.S. President Donald Trump further ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China. * Stock futures turned red in Asia early on Monday as a standoff in Sino-U.S. trade ta
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