Gold is hit by US-China tensions
Gold was losing value in Asian trading on May 25. The US-China tensions is are getting more heated and are reducing the demand even for the safe-have investments.
By 05:26 Gold futures tumbled 0.47% and stood at US$1727.40. The gains of the last sessions were cut short.
Stocks showed mixed results. Chinese shares were down, while the rest of Asia edged higher.
The new wave of anxiety on the markets is centered around Chinese politics. The latest security laws, which will, supposedly, severely limit the autonomy of Hong Kong. Protests and clashes with the police came back soon after.
The tensions became even more heated because of the United States. President Trump warned about a “very strong” retaliation. The Commerce Department already blacklisted 33 companies and organizations from China.