The gold price was traded on Monday for trading at its highest levels in four weeks, with the continued demand growing on safe havens in financial markets amid declining stock indices due to fears of world trade war.
The US dollar slipped against major currencies and traded at its lowest levels in a month, pushing gold into recovery, especially after declining Asian and global stock levels and increasing demand for Japanese yen as a safe haven in the marketplace.
US Treasury secretary Munshain said that US president Donald Trump is not worried about the commercial war, but he is not seeking to her, and pointed out that the US administration is going on its way to raise tariffs as indicated earlier.
The United States has indicated that it will raise tariffs on Chinese imports worth 60 billion dollars, prompting China to announce that it will raise the import prices of 128 US goods, causing further market tensions to increase demand for gold.
Gold prices are currently traded at the level of $1348.06 for the ounce, after registering the lowest level at $1345.64 for the ounce and it opened today's session at the level of $1347.09 for the ounce, registering the highest level at $1350.86 for the text