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Gold Falls From Four-Week High Amid Tense Pelosi Taiwan Trip

  • Escalating US-China tensions temporarily boosted gold demand
  • Growing fears about global economy have also supported bullion
Updated on

A rally in gold stalled near a four-week high as investors braced for a stormy period in US-China relations with House Speaker Nancy Pelosi in Taiwan.

Spot gold fell less than 1% on Tuesday after earlier climbing above $1,788 an ounce. The precious metal often benefits from bouts of geopolitical turbulence and Pelosi’s trip adds to tailwinds that helped gold rebound from a 15-month low. Gold rose in anticipation of her visit, but gave back its gains after she landed as China announced military drills and missile tests.