The weak US economy -prospects restore gold with its glamor

Gold prices have fallen after the biggest weekly fall in six months, as this has strengthened the increasing concern about the economic outlook of the United States and the budget deficit from demand for safe assets. The precious metal rose by up to 1.3% to about $ 3.245 per gram in the early trading in the Asian markets. This comes after the Moody’s credit rating agency announced Friday night that it reduced the supreme sovereign credit racing of the US government from “AAA” to “AA1”, pointing out that successive US departments did not reduce the budget deficit. “While we recognize the major economic and financial power points of the United States, we see that these factors are no longer sufficient to level the weakening in financial indicators,” Moody’s said in a statement. Large fluctuations during the last period have seen great fluctuations in recent months. Last week, his biggest weekly loss since November was in the light of the decline in geopolitical tensions, after a sharp turning wave that led to him being more than $ 3,500 per gram last month. Despite this, since the beginning of the year, gold has been more than five high, supported by the state of geopolitical and economic uncertainty, commercial tension and investment flow to the boxes circulating on the stock exchange. Faso Mennon, the administrative director of the investment strategy at Overi Chainz Banking Corp, expected gold to see “fluctuations in the short term, in light of what we see from a mix of good and bad news.” He added that in the long run: “Trump’s policy is being prepared and investment diversified from the assets denominated in dollars, one of the structural support factors for gold, and it could push it to new levels in the coming years.” By 08:46 in Singapore, gold rose 1.3% to 3245.67 dollars per ounce. The “Bloomberg” index of the dollar’s power fell 0.3%. The prices of silver, balladium and platinum also rose.