Gold rose in early Asian trade after the Fed warned of economic uncertainty due to tariffs. The precious metal tends to perform well during periods of economic uncertainty. However, price gains may be capped by expectations of a meeting between U.S. and Chinese officials in Switzerland on Thursday. BofA Global Research's supply/demand model suggests gold could comfortably trade above $3,000/oz, but not above $3,500/oz for now, especially if the trade dispute eases, the Global Commodity Research team said in a note. Spot gold rose 0.2% to $3,373.34/oz. (Newsmaker23)
Source: Dow Jones Newswires
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