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6/12, 8:30 AM (Source: TeleTrader)
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Gold prices rise amid new trade developments

Precious metals traded mostly in the green on Wednesday with gold prices jumping after hitting a one-week low during the previous session.

Earlier this week, United States President Donald Trump warned additional tariffs on Chinese goods would go into effect if his Chinese counterpart Xi Jinping doesn't attend the G20 summit. "Tariffs are a great negotiating tool, great revenue producers and, most importantly, a powerful way to get companies to come to the USA and to get companies that have left us for other lands to come back home," he tweeted on Tuesday

Gold jumped 0.75% to sell for $1,336.57 per ounce at 8:22 am CET and silver climbed 0.70% to go for $14.85 per ounce at the same time. Meanwhile, palladium declined 0.07% to change hands for $1,392.48 per ounce at 8:23 am CET, while platinum advanced 0.57% to go for $819.67 per ounce at the same time.

Breaking the News / JC