Gold Prices at 6 Year High Due to U.S.-China Trade Policies
PALM BEACH, Florida, Aug. 8, 2019 /PRNewswire/ — There are many reasons why the price of gold fluctuates, but one of the current reasons is the intensifying U.S.-China trade war which is perceived to threaten global economic growth. In times of uncertainty, gold is seen as the one commodity that will retain its value no matter the outcome. Just this past week, due to the U.S.-China trade war, gold prices strengthened to their highest point in more than 6 years. An article on CNBC said: “There is a great deal of uncertainty in terms of economic growth especially concerning U.S.-China trade frictions. Given the increased volatility in U.S. and global stock markets, gold is receiving support as result of that,” said Jeff Klearman, portfolio manager at GraniteShares.” It continued: “There is a great deal of uncertainty in terms of economic growth especially concerning U.S.-China trade frictions. Given the increased volatility in U.S. and global stock markets, gold is receiving support as result of that.” With that as the current background another article by another publication CNBC said: “As the gold price began to decline after hitting its peak in 2011, gold mining companies began shifting their focus to maximizing value over volume, with greater emphasis on delivering returns to stakeholders than on increasing production”. Active companies in the markets this week include Yamana Gold Inc. (NYSE: AUY), Kinross Gold Corporation (NYSE: KGC), Beliss Corp. (OTCPK: BLIS), Asanko Gold Inc. (NYSE: AKG), B2Gold Corp. (NYSE: BTG).