March 23, 2018 / 1:44 PM / 8 months ago

BUZZ-Gold stocks up as fears of trade war saps risk appetite

** U.S.-listed shares of gold companies rise as the bullion, a safe haven investment, gains favor amid fears of possible trade war between the U.S. and China

** Spot gold up 1.42 pct at $1,347.21/ounce on Friday - highest level seen in more than a month

** U.S. President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to $60 bln imports from China

** Japanese yen, a fellow safe haven asset and likely beneficiary of trade war, rose as much as 0.6 pct

** Gold stocks gain: AngloGold Ashanti up 5 pct Barrick Gold, Gold Fields, Agnico Eagle and GoldCorp gain more than 2 pct

** A spike in volatility, worries of rising inflation and possible protectionist trade policies have taken wind out of multi-year bull run in equity markets

** The XAU has gained 3.4 pct so far this year while benchmark S&P 500 index has dropped nearly 1 pct (Reporting by Yashaswini Swamynathan in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below