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Gold Rises On Trade Anxiety

Gold prices inched higher on Thursday after U.S. President Donald Trump signed a legislation supporting Hong Kong protesters, casting fresh doubts about whether the United States and China will seal a preliminary trade deal.

Spot gold edged up 0.2 percent to $1,457.16 per ounce, while U.S. gold futures were up 0.15 percent at $1,463.45.

Trump on Wednesday signed a legislation into law that requires the State Department to certify, at least annually, that Hong Kong retains enough autonomy to justify favorable U.S. trading terms.

China reiterated its retaliation threat and said the Hong Kong Human Rights Democracy Act seriously interferes in the internal affairs of China violating international laws and basic principles of foreign relations.

Many expect Trump will go forward with a scheduled round of Dec. 15 tariffs if the U.S. and China haven't agreed to a trade deal by then.

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