Gold Rebounds Above $2,000 Amid Escalating U.S.-China Tensions
- Curbs on Huawei add to geopolitical tensions, boosting havens
- Price advances as ETFs add to holdings after weekly drop
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Gold climbed back above $2,000 an ounce as the dollar weakened and renewed tensions between the U.S. and China boosted demand for haven assets.
The Trump administration announced further curbs on Huawei Technologies Co. aimed at cutting its access to commercially available chips. The move is the latest tit for tat in escalating tensions between Washington and Beijing over everything from the pandemic to China’s tight grip over Hong Kong. Equities climbed to a record, while a dollar gauge slid to the lowest since 2018.