Gold establishes itself to strong US data that has reduced the demand for safe ports

Gold prices stabilized after falling in the previous session, after an unexpected increase in the number of vacancies in the United States, which strengthened the appetite of the risks, and contributed to strengthening the dollar. The precious metal traded on Tuesday after a decrease of 0.8% of about $ 3,360 per gram. The high vacancies have strengthened investor confidence in the hardness of the US economy, despite the threats of President Donald Trump’s Customs Agenda. Gold has risen about 28% since the beginning of the year to stay below a record level in April with less than 200 dollars. The precious metal benefited from the demand for safe ports, at a time when investors withdrew from the assets exposed to the risks of the increasing trade war. Central banks also form a key factor in supporting prices, amid the continued purchase rate in light of geopolitical tension and fear of excessive exposure to the dollar. Commercial tension is exacerbated, it does not appear that commercial tension will be soon. Trump signed a decision on Tuesday that increases customs duties on steel and aluminum from 25% to 50%. On the other hand, this week, China accused the United States of seriously undermining the last commercial ceasefire, while the European Union warned against new retaliation as Washington continued with its threats. Immediate gold was traded at $ 3,356.26 per gram at 8:25 p.m. The dollar’s Bloomberg index immediately fell 0.1%, after it rose 0.4% in the previous session. On the other hand, silver prices rose, while platinum and platinum remained without change. Attention is currently working on employment indicators in the United States, including the post report for the month of May, which is expected on Friday, which can play a role in the Federal Reserve monetary policy. Low interest rates are positive for gold, which does not benefit, which increases its attraction in cash facilitation periods.