WASHINGTON (dpa-AFX) - Gold prices are rising Monday morning, extending strong gains from previous two sessions, with traders seeking the safe haven asset amid rising fears of a global recession.
Lower U.S. futures and weakness in European markets on weak economic data and growth outlook, and the dollar's decline are supporting the yellow metal's uptick.
The dollar index is down 0.1%, at 97.65.
Gold futures for August are gaining $11.50, or 0.88%, at $1,322.60 an ounce.
Gold futures gained 1.5% on Friday, after adding about 0.5% a session earlier.
Silver futures for July are up $0.133, or 0.91%, at $14.700 an ounce, while Copper futures for July are down $0.0055, or 0.21%, at $2.6345 per pound.
A solution to the U.S.-China trade spat appears to be nowhere in sight.
And the situation has now worsened after the U.S. decided last week to impose tariffs on Mexican goods and added that the rates will go up gradually if Mexico does not make efforts to halt illegal immigration across the U.S.-Mexican border.
On Sunday, China published a white paper that said the U.S. should take responsibility for the setback in the U.S.-China trade talks. The paper accused the U.S. of being an untrustworthy negotiator and backtracking on its commitments in trade negotiations.
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