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Metals Stocks: Gold, already at multiyear highs, tacks on another 1% as trade worries deepen

August 5, 2019

Gold’s haven appeal boosted the metal Monday as an escalating U.S.-China trade fight sparked a selloff in assets perceived as risky.

Gold on Friday notched its highest finish in more than six years, a day after President Donald Trump intensified a trade fight with China by announcing additional tariffs on Chinese goods and China pledged retaliation.

China’s yuan currency on Monday fell to its lowest level in more than a decade, breaching the 7-to-the-dollar level. Investors took that as a sign Beijing could allow further weakness, with the potential to further intensify trade tensions.

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