Gold decreases with the rise of the dollar among the concerns of Trump’s customs plans
Gold prices decreased on Wednesday with the increase in the US dollar, while market traders are preparing for the complete plans of the President of the United States Donald Trump for mutual customs duties, which are afraid of bringing to high inflation and obstruction of economic growth.
The instant gold price decreased by 0.1 percent to $ 3017.49 the ounce of 05:35 GMT. Futures on the United States gold decreased by 0.2 percent to $ 3021.30.
Kelvin Wong, the main market analyst in the Asia of the Pacific region of “Onda”, said that the power of the US dollar is pressing the prices, adding that “prices are now blocked in a transversal scope due to the uncertainty on how to apply the mutual customs tariffs scheduled for April 2,” said Kelvin Wong, the main analyst of the Pacific Asia market.
Trump’s customs policies are probably inflated, which can slow down economic growth and exacerbation of commercial tensions.
“There are real concerns about American economic growth, as well as inflation,” said Sony Kumari, an expert in basic strategies of raw materials at EN Z: “There are real concerns about American economic growth, as well as inflation,” said Sony Kumari, a support price expert. “
The trust of the American consumer has decreased to the lowest level in more than 4 years, in March, with the fears of the recession families and a high inflation caused by customs rates. Gold, which is a decline in geopolitical and economic fluctuations, has increased by 15 % so far this year, recording its highest level ever at $ 3057.21 on March 20.
Numerous Federal Reserve officials should pronounce words later during the day. The markets are awaiting us with personal consumption expenses on Friday, to obtain indicators on monetary policy.
“We expect gold to reach $ 3,200 by September,” said Kumari of EN Z, adding that any rigorous comment of the “Federal Reserve” could be a factor to slow down the height of the gold.
In another context, Tuesday, the United States reached agreements with Ukraine and Russia to stop their maritime attacks and stop affecting energy goals; Where Washington accepted the pressure of lifting some of the Moscow -set sanctions.
The price of the instant silver decreased by 0.5 percent to $ 33.57 The Oncia and Platinum lost 0.5 percent at 971.35 dollars. Palladio has decreased by 0.5 percent to $ 951.23.
