Gold prices rose on Asian trading Thursday for a second consecutive day amid growing demand for safe haven in financial markets as trade tensions between the United States and China are back.
US President Donald Trump has been thinking of raising tariffs on car imports, a day after he signaled dissatisfaction with trade talks with China, which prompted the US Treasury Secretary to say the war had stalled earlier this week.
On the other hand, the Federal Reserve meeting minutes showed that members agreed to raise interest rates again at least during the year in line with market expectations, but showed that the bank's approval to exceed inflation for the bank's target would be for a limited period of time.
This helped the dollar to weaken and the demand for gold as a safe haven pushed it to record the highest level in a week in yesterday's trading, trying to complete the rise during today's session.
Gold prices traded at $ 1294.92 an ounce after hitting a low of $ 1292.90 an ounce and opened today's session at $ 1294.00 an ounce, reaching a high of $ 1295.90 an ounce.