Gold rises further as U.S. dollar eases

In an interview with USA channel CNBC broadcast Friday, Trump threatened to impose taxes on all Chinese imports, saying the U.S. has been "ripped off by China for a long time".

Meanwhile, the People's Bank of China injected 502 billion yuan into its market through a medium-term lending facility, giving Chinese lenders greater liquidity by letting them borrow from the central bank.

The pan-European FTSEurofirst 300 index lost 0.15 percent, amid rising trade tensions.

In offshore trading, the yuan rose 0.15 percentage point to 6.8085 versus the dollar at 3.40 p.m. Beijing time.

U.S. Treasury Secretary Steven Mnuchin said he "wouldn't minimize" the possibility that the U.S. will impose tariffs on all $500 billion worth of goods that the U.S. imports from China, amplifying a threat President Donald Trump made in a television interview earlier in the week. The threat of a currency war on top of a trade war seems that much closer, even though Trump himself categorically said "no" when questioned about the prospects of a currency war.

The pan-European STOXX 600 index slumped 0.2 percent at 384.94 points, while the FTSEurofirst 300 index plunged 0.3 percent to 1,506.82 points.

The dollar index fell 0.77 percent, with the euro up 0.74 percent to $1.1727.

Trump, on Friday, lamented the recent strength of the us dollar and accused the European Union and China of manipulating their currencies.

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Asian stocks took Wall Street's cue on Monday with MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.2 percent.

"Stock markets are enjoying a decent move higher. receiving a dual boost in sentiment from a proposed Chinese fiscal stimulus and a better than expected set of results from Google-parent company Alphabet", said David Cheetham, chief market analyst at traders XTB. -China trade tensions and increased supply.

The US leader is already embroiled in a messy trade spat with China and Europe, while negotiations with Canada and Mexico to revamp the North American Free Trade Agreement have stalled. Brent eased 17c to $72.90.

US crude was last off 3 cents at $68.24 a barrel after posting its third straight weekly loss.

Trump's comments against Fed rate hikes eased the greenback and helped steepen the Treasury yield curve.

Elsewhere in Canada, the Loonie rose against its USA counterpart despite the weaker inflation data in the country where the annual Canadian CPI came lower than expected by 0.1 to be steady at 1.3 percent. U.S. gold futures for August delivery were 0.3 per cent higher at US$1,234.20 an ounce.

Benchmark 10-year Japanese Government Bond futures opened weaker on Monday, sending yields to six-month highs.

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