Gold edges up to US$1,286

Business | 27 May 2019 3:40 pm

The price of gold touched a more than one-week high today as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut.

Spot gold edged up by 0.1 percent at US$1,286.21 per ounce. Earlier in the session, the metal touched US$1,287.32, its highest since May 17.

U.S. gold futures gained by 0.2 percent, to US$1,285.60 an ounce.

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