WASHINGTON (dpa-AFX) - Gold prices rose to hit over seven-month high on Tuesday as earnings concerns as well as fresh U.S.-China tensions sapped investors' appetite for risk.
Spot gold rose 0.4 percent to $1,307.79 while U.S. gold futures were up 0.25 percent at $1,306.35 per ounce.
The corporate earnings picture is looking bleaker for 2019 amid escalating U.S.-China trade tensions.
After the U.S. Justice Department charged Chinese tech giant Huawei with bank fraud and conspiring to steal trade secrets, investors remain wary of possible negative impact on trade talks.
Trade talks between the U.S. and China are likely to begin Wednesday in Washington where Chinese Vice Premier Liu He will meet with U.S. Trade Representative Robert Lighthizer and others.
Meanwhile, the U.S. Federal Reserve's two-day policy meeting begins later in the day amid the backdrop of a weakening global economy, and waning business and consumer confidence. The dollar may weaken if the Fed sounds more dovish than expected.
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