On Wednesday, Gold prices advanced as the dollar softened.
The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.2% at 94.87 on Wednesday.
A weaker dollar makes greenback-denominated gold cheaper for holders of other currencies.
Despite recent weakness, the dollar index rose more than 6% since mid-April. Rate hikes by the Federal Reserve were cited as supportive for the dollar.
The move would be the second time the Trump administration imposed duties on Chinese imports since July. The U.S. levied 25% duties on $34 billion in Chinese goods on July 6. In response, China followed up by imposing duties on the same value of U.S. products. China’s Ministry of Commerce said it had no choice but to respond to the U.S. after the latter “launched the largest trade war in economic history.” /investing.com