Gold hits one-week high as tariff worries offer support

COMEX Gold futures rose 1% to hit one-week high of $3360 per ounce as global trade concerns kept the metal supported. The US President Donald Trump announced a 35 percent tariff on Canadian imports and also talked about blanket tariffs of 15 percent to 20 percent on most of America's trading partners and announced plans to make a 'major statement' on Russia. This kicked in safe-haven demand for Gold and the metal rose despite the strength in the US dollar index. COMEX Gold is up more than 2% this week. MCX Gold is trading at Rs 97451 per 10 grams, up 0.79% on the day after hitting a high of Rs 97548 per 10 grams.

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