Gold Rises as Trump Tariff Defeat Throws Trade Deals Into Doubt [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Bullion rose as much as 1.4% toward $5,180 an ounce. President Donald Trump said Saturday he would impose a global tariff of 15% to preserve measures after the Supreme Court ruled against his use of emergency powers to set duties. The weaker dollar made the metal cheaper for many buyers. Most Read from Bloomberg The court ruling has cast doubt over deals the US has negotiated with major trading partners. The European Parliament's trade chief said he'll propose delaying ratification of an agreement with Washington until there's more clarity, Indian officials will postpone a trip to the US, while a member of Japan's ruling party called the situation “a real mess.” Gold's recent run of gains has helped the metal to recover ground following a sudden rout at the turn of the month, which had dragged prices down from a record. The advance has been underpinned as many of the long-term factors aiding the commodity — including heightened geopolitical tensions and investor wariness of sov
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