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Feb 05 - 01:55 AM

Gold - Chinese Miners Gain As Gold Hits Record High Amid Sino-US Tension

By Donny Kwok  —  Feb 05 - 01:26 AM

• Chinese gold miners rise as bullion hits record high on safe-haven demand amid Sino-U.S. trade tension

• Zijin Mining gains as much as 3% to 16.73 yuan, highest since Nov. 11, 2024

• Western Region Gold jumps 5.3%, Shandong Gold Mining surges 5.8% and Zhongjin Gold soars 5.2%

• "China may be more encouraged to keep buying gold for reserves if the trade war escalates," Ilya Spivak, head of global macro at Tastylive, says

• Gold prices hit record high of $2,858.12 per ounce on Wednesday, bolstered by fears of a new trade war between the U.S. and China after Beijing slapped tariffs on U.S. imports in response to new U.S. duties on Chinese goods

(Reporting by Donny Kwok)

Source:
London Stock Exchange Group | Thomson Reuters

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