India, May 6 -- Gold traded up more than 1 percent to hit a one-week high on Tuesday as Middle East tensions intensified and U.S. President Donald Trump announced a 100 percent tariff on movies produced overseas, reigniting concerns about the potential fallout of a global trade war.
Spot gold climbed 1.2 percent to $3,372.27 per ounce in early European trade, while U.S. gold futures were up 1.8 percent at $3,382.46.
Six airstrikes hit Yemen's Hodeidah port, a day after the Iran-aligned Houthis fired a missile that landed near Israel's main airport in Tel Aviv. Several countries, including France and China, have strongly condemned Israel's plan to take full control of Gaza.
On the trade front, Trump's announcement of a 100 percent tariff ...