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Gold nears $4,700 record as US–EU trade war fears ignite haven rush

From fxstreet.com

Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend. XAU/USD trades at $4,672 at the time of writing. Last Saturday, US President Donald Trump announced duties of 10% to eight European countries, effective February 1, in a dispute over Greenland, and said he would increase tariffs even further by June 1. Consequently, the US Dollar plunged while safe-haven assets like Gold, Silver and currencies ... (full story)

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  • Category: Technical Analysis