The price of gold wakes up from its winter sleep and is over $ 9,900 per ounce

Gold has risen after scoring the biggest daily loss in two months, amid a concern over recent commercial threats made by US President Donald Trump. The precious metal was traded nearly $ 2900 per gram, after falling 1.6% last Friday. Today’s profits came despite the fact that the 24 -day relative index – a measure of the velocity and intensity of movements – showed that the metal reached excessive purchasing levels during the last sessions. Manaf Modhes, an analyst at Motilal Financial Services, said anxiously about Trump’s retaliation costs that the market participants were waiting for more details about Trump’s plans to take revenge, which could aggravate global trade voltages. He added: “Trump continued to introduce threats of customs duties, pointing out that the fees on cars could come into effect on the second of April.” Read more: Marcus Assyment: The obsession with the rise in the price of gold threatens the disappearance of its glare despite the concerns of the coming steps of Trump, the expectation that the tariff threats are mainly used as a negotiating instrument. His administration policies increased the state of confusion due to postponement and exceptions, while the state of geopolitical and economic uncertainty contributed to improving the attraction of gold as a safe haven. Traders also monitor the latest US economic data to expect the US Federal Reserve Monetary Policy Policy, after the report last Friday revealed a decline in retail sales in the largest rate in about two years. These figures have urged investors to start again that the central bank will lower interest rates by next September. Low borrowing costs usually support gold because it does not produce yields of interest rates. Money managers reduced their upward bets on gold to the lowest level in four weeks during the period ending February 11, according to the latest report issued by the committee for future commodities last Friday. The highest range of gains in gold despite the fall in prices last Friday, but Gold has recorded profits for the seventh week in a row, in the longest rise since 2020. The support comes partly from the continued purchases of the central bank, including the Central Bank of China, as well as raising the golden boxes. The Precious Metal recorded a record level of $ 2942.68 per gram last Tuesday. The immediate gold price rose 0.7% to reach 2902.13 dollars per gram at 10:08 a.m. London, after weekly profits of 0.8%. The Bloomberg index also rose 0.1%. Palladium jumped 1.9%, while Silver and Platinum also recorded profits.