Gold prices increased by more than 1 % Thursday after its largest daily reduction in five months thanks to purchases at reduced prices, one day after the alloys have reached its lowest level in a week between optimism on the commercial agreement between the United States and China.
The instant gold price increased by 1.2 percent to $ 3326.42 the ounce, starting from 04:53 GMT. Futures on the United States gold increased by 1.3 percent to $ 3337.50.
Non -revenue alloys, which are traditionally considered a means of covering global instability, reached its highest record at $ 3,500.05 on Tuesday, but went down below the level of $ 3,300 on Wednesday.
“The type of fluctuations we are witnessing this week is led by technical indicators and the risks of the main titles,” said Kyle Roda, analyst of the financial market of Capital.com. But the basic factors are strong, so the purchase, when the prices have decreased, actually depends on the trend of investors towards the market based on the main image. “
On Wednesday, the US Treasury Secretary Scott Bestent said that the highest customs duties between the United States and China are not sustainable and should be reduced before the start of commercial negotiations, but stated that President Donald Trump will not reduce customs functions on unilateral Chinese imports.
Meanwhile, Trump has planned to exempt car manufacturers from some customs functions after large pressure from sector officials in recent weeks, according to a report.
“We will keep a bullish trend until the Trump administration completely retires its commercial policy,” said Roda.
The International Monetary Fund has declared on Wednesday that customs duties will slow down growth and increase debt all over the world. Pesent said that the economic growth of the United States would exceed the modified International Monetary Fund esties 1.8 percent, a 2.7 percent decrease recorded in January, if the Trump administration policies were applied.
The dollar index has decreased by 0.2 percent compared to the corresponding currencies, making the leagues dominated in cheaper dollars for foreign buyers.
The price of the instant silver decreased by 0.5 percent to $ 33.37 for ONCIA, the platinum decreased by 0.5 percent to 967.45 dollars and Palladio lost 0.7 percent at 937.48 dollars.
