Gold Bounces Higher as Trade Turmoil Hurts Dollar, Treasuries [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
A vicious selloff of US government bonds — typically a safe haven in times of turmoil — underscored a jittery day for investors as Trump's historic trade measures came into effect. Bullion extended recent declines before swinging higher to gain as much as 2.3% “Gold's rebound reflects growing investor anxiety over tariff threats and the potential reshaping of global trade norms,” said Christopher Wong, a foreign currency strategist at Oversea-Chinese Banking Corp. Bullion remains a good hedge against a more disorderly global economy, he said. Trump placed higher duties on roughly 60 trading partners, with China facing a punitive tariff of 104% on its goods. Beijing held back from immediate retaliation, but promised countermeasures and reiterated that it's ready to “fight to the end” in the face of escalating US trade measures. Gold has enjoyed a powerful run — including a record high last week — but has been caught up the global selloff over the past week as the scale of Trump'
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