Gold Rose To A Two-Week High And Is Heading For A Weekly High

Gold prices rose to a two-week high as trade war escalated after US President Trump said he would impose a 5 percent charge on Mexican goods from June 10 to prevent immigrants from entering the United States illegally.

President of Mexico calls on the United States for dialogue on immigrants

Mexican President Andres Lopez Obrador has called for a dialogue with US immigration stations after US President Donald Trump announced tariffs on goods from Mexico that will remain in place until the flow of migrants stops.

Lopez sent a letter to Trump where he proposed "deepen our dialogue, to look for other alternatives to the problem of migration." Earlier, Trump said the United States would impose customs duties on all Mexican goods on June 10 until Mexico halted the flow of illegal immigrants to the United States.

The Dow Jones drops 200 points in pre-marketing because of fears of a slowdown

The Dow Jones industrial average fell more than 200 points on Friday after US President Donald Trump decided to impose a 5% tariff on all Mexican imports that would increase until the problem of illegal immigration was addressed. US Treasury 30-year bonds issued by the Treasury Department in Washington reached 2.604% for the first time since November 7, 2016.

• The Dow fell 0.83% at 10:25 am CET.
• While the NASDAQ fell 1.16%.
• A minute later, the S & P 500 fell 0.89%.

The dollar index, which tracks the performance of the greenback versus a basket of six currencies, fell 0.1% to 98.03 points. The euro rose 0.20% against the dollar to trade against $ 1.11154 at 10:27 CET. The pound was up 0.15% at $ 1.26271 at the same time.

Oil Trading

• Gold futures for August delivery rose 0.5% to $ 1299 an ounce at 10:37 am.
• The spot delivery price of the yellow metal rose 0.45% to $ 1294.4. Gold was set to record monthly gains - the first in four months - 0.8%.