Gold trading close to all-time highs – London Business News | London Wallet

On Monday gold edged hight trading close to all-time highs as the dollar weakens.

Gold future was up by 0.2% at $3,293.30 an ounce and the spot gold price rose 1.4% to $3,286.03 an ounce.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Exuberance is set to continue at the start of the week, as more trade deal scores are on the doors and geopolitical tensions have eased off.

“Talks between Canada and the US are back on the cards, after an agreement to scrap a tax targeting American tech firms.

“There will now be speculation that other countries, like the UK, will be forced to drop their own taxes targeting the biggest tech firms in the world when further talks take place.”

Streeter added, “The trade deal announced again between the US and China, has poured more optimism into glass half full attitudes. Even though it’s still pretty scant on detail, the agreement looks set to give US companies better access to crucial rare earth minerals, exported from China.”