FOX LIVE NEWS UPDATE

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FOX LIVE NEWS UPDATE

PRECIOUS-Gold nudges up amid looming U.S. tariffs on China

Sept 17 (Reuters) – Gold inched up on Monday as bargain-hunters bought the metal after prices dipped in the previous session, amid reports that the United States is set to impose a new round of tariffs on Chinese imports.

Spot gold XAU= was up 0.2 percent at $1,195.27 an ounce as of 0354 GMT, after falling 0.6 percent on Friday when it marked its third straight weekly decline.

U.S. gold futures were down 0.1 percent at $1,199.80.

U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters. price action shows that the influence of the news coming out on tariffs is waning a little bit,” said Ji Ming, chief analyst at Shandong Gold Group.

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