Gold prices are still rising in the light of political and commercial tension

Gold has recorded a slight increase, after achieving its largest daily profits in four weeks, supported by the fall in the dollar and the increase in demand for safe ports in light of the increase in commercial and geopolitical risks. Gold Price won nearly $ 3.390 an ounce, after jumping 2.8% on Monday, with the decline of the relationship between Washington and Beijing, and the escalation of the Russian Cocraine War. China has accused the United States of violating the recent trade agreement between the two countries, and has promised to take measures to protect its interests, despite the White House’s allegation later that US President Donald Trump and his Chinese counterpart XI Jinping may speak this week. Meanwhile, the European Commission has issued a new warning of countermeasures as the US president continues with its threats to impose customs duties. The optimism of the markets fades amid the fall in the dollar, in the absence of indicators of progress in negotiations, has recently developed optimism about the possibility that the United States reaches an agreement with two of its largest commercial partners. The dollar has fallen to its lowest level since 2023, in a reflection of the increasing concern of Trump’s policy and its impact on the economy. All of this has strengthened the attraction of gold as a safe haven, after this capacity has decreased since the precious metal has reached a record level of more than $ 3.500 per gram in April. However, gold has been higher by more than 25% since the beginning of the year, while Goldman Sachs said last week that it would remain a way to turn against inflation within long -term investment portfolios, along with oil. The immediate gold price rose 0.2% to $ 3,389.61 per gram at 07:23 in Singapore. The Bloomberg index finished the dollar after a loss of 0.6% Monday. As far as silver is concerned, this has established after it has become its highest level since October, while Platinum has recorded a slight increase, and pacalium has remained without a significant change. The markets are awaiting this week for the issuance of a set of labor market indicators in the United States, including the May Report for the month of May, which will direct the Federal Reserve policy. The reduction of interest rates is a usually positive factor for gold as it does not produce a return.