Gold prices rise to the largest daily decline in two months

Gold prices have stabilized to the largest daily decline in two months, amid fear that the last record in the precious metal prices is exaggerated. The alloys were traded near $ 2886 per ounce, after falling 1.6% on Friday. The 24 -Day relative index – a measure of the velocity and intensity of movements – showed that gold had reached the peak levels of the purchase earlier this week. Traders have also evaluated the US Federal Reserve on interest rates, along with the risk of market disorders due to the threats of US President Donald Trump in rates. Speculation has increased that threats are mainly used by Trump as a negotiation tool. The customs definition policy pursued by the administration has become increasingly confusing as a result of the delay and refuge of the imposition of fees, with the tendency of the geopolitical and economic uncertainty to add more attractiveness to alloys, which is a safe haven. Also read: Trump’s customs duties lead gold to a record level of bets to reduce US interest. Traders have also been investigated in the latest US economic data, looking for evidence of the FBI’s potential road on interest rates, after a report on Friday showed that retail sales decreased by the largest amount in nearly two years. The numbers have forced traders to restore the bets that federal interest rates will lower by September. Gold prices usually benefit from lower borrowing costs because they do not benefit. Money managers reduced their budgets on gold to the lowest level in four weeks a week ended February 11, according to the latest report released by the Commodity Committee on Friday. Despite the fall Friday, prices are still reaching their seventh weekly progress, which is the longest profits since 2020. The continuation of central banks, also in China, helped buy gold, as well as high prejudices in traded investment funds supported, supported prices. The alloys recorded the highest level ever at $ 2942.68 per gram on Tuesday. Immediate gold rose 0.1% to $ 2886.23 per ounce at 08:16 in Singapore, after a weekly profit by 0.8%. The “Bloomberg” index of the immediate dollar was stable, and silver decreased, while palladium and platinum rose.