MTECHTIPS;- Gold Prices Edge Up as Dollar Softens Following Trump’s Remarks

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MTECHTIPS;- Gold Prices Edge Up as Dollar Softens Following Trump’s Remarks

MTECHTIPS- Gold prices edged up on Monday on a softer dollar. Meanwhile, U.S. President Donald Trump’s criticism on the Fed and global monetary policy over the weekend also helped push the yellow metal’s prices higher. Gold Futures for August delivery on the Comex division of the New York Mercantile Exchanges gained 0.11% to a trading price of $1,232.4 each troy ounce at 2:39 AM ET (05:39 GMT).  Trump on Friday reinforced his criticism of the Federal Reserve’s policy on raising interest rates, saying it takes away from the United States’ ‘big competitive edge’ and could hurt the U.S. economy. He also accused the European Union and China of manipulating their currencies.   “China, the European Union and others have been manipulating their currencies and interest rates lower,” Trump said in a tweet over the weekend. That, coupled with U.S. interest rate hikes, was weakening U.S.’s economy as the dollar strengthened, Trump claimed.  His comments on currency came after he told CNBC in an interview that he was prepared to impose tariffs on all Chinese goods to the U.S

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