Gold prices end higher Monday as China-U.S. conflict and superlow rates buoy bullion

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Gold futures settled higher Monday, resuming a strong uptrend for the precious metal after snapping a five-session win streak on Friday, as China imposed fresh sanctions against U.S. officials in apparent retaliation for similar measures against Hong Kong and mainland officials last week. Wavering in the dollar, which attempted to perk up on Monday, and lackluster moves in government bond yields, failed to provide any headwind to further gains in gold’s price. Negative real yields in most of the developed world, factoring inflation, and record low interest rates have investors have fostered appetite for silver and gold amid the global health crisis. Gold for December delivery added $11.70, or 0.6%, at $2,039.70 an ounce. Gold got off to a strong start as tensions appeared elevated between the U.S. and China. Beijing on Monday said it would impose sanctions on 11 U.S. citizens, including Republican Sens. Ted Cruz and Marco Rubio.
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