Gold prices rose more than 1% on Monday and reached $ 3,247.40 per ounce, because the US dollar weakened and renewed trade stresses were left for the demand for safe haven. US Gold Futures also rose and won 2% to $ 3,251.90. The rally follows an important correction last week, where Gold has posted its Weekly performance since November.
The dollar fell 0.3%on Monday, making gold more affordable for holders of other currencies. Treasury Secretary Scott Bavens confirmed the tariff threats of President Trump and stated that tacts were presented to trading partners who do not negotiate in ‘good faith’. This announcement arranged concern about the tensions of global trade and their potential impact on the financial markets.
Reuters
Gold, traditionally considered a safe active during periods of political and economic uncertainty, tends to perform well in an environment with low interest rates. This year, markets expect 54 basic points of tariff reductions, with reducing experience to start in October. Spot silver rose by 0.8% to $ 32.52 per ounce, platinum rose by 0.6% to $ 993.70 and Palladium won 0.7% to $ 966.98.
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