Gold trader feel happy as Gold is slightly higher today after the safe haven currency US dollar fell from its weekly highs. The rise today is also associated with risk aversion as traders' search for yield in alternative places. For remind, the global financial markets are now on the edge as the world braces for a trade war. Between America vs China
Trade war has already begin, Donald Trump has placed tariffs on goods from China. He has also placed tariffs on steel and aluminum and while the tensions have subsided recently, gold trader and forex trader, also many investors are thinking about what will come. Already, reports from a Chinese publication indicate that officials are crafting a comprehensive list with American goods to place tariffs on. As reported from Beijing news
So what about the real time effect of trade war, for the yields on US treasuries have fallen from their previous highs.
Crypto currency Bitcoin and other cryptocurrencies prices have also dropped to multi-monthly lows. Therefore, as investors look for yield, gold has become an ideal alternative. Year to date, gold has moved up by about 2% while the safe haven currency US dollar has dropped by almost 3%. Nonetheless, it has fallen from its monthly high of $1356 to the current low, gold is one of the best choices
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