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Gold Tops $1,500 as Investors Seek Shelter From Gathering Storm

  • Bullion in demand on fallout from U.S.-China trade dispute
  • China added to gold reserves for an eighth straight month
Bloomberg business news
Gold Shines as Investors Seek Shelter
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Gold futures rallied above $1,500 an ounce on sustained demand for the traditional haven as the U.S.-China trade war festers, global growth slows and central banks around the world ease monetary policy.

The metal advanced as much as 2.6% an ounce on the Comex to the highest since 2013. The move extends this year’s climb to 19%, with gains underpinned by inflows into exchange-traded funds and central bank purchases. China’s central bank expanded its gold reserves for an eighth straight month in July.