Gold maintained its profits, after it strengthened US data weaker than expected that the Federal Reserve would reduce the interest rate at least twice this year to avoid recession. The alloys were rotated near $ 3,375 per gram, after an increase of 0.6% Wednesday, following separate reports showing a shrinkage in the United States service sector, and delayed the frequency of employment. The yields of the US Treasury effects have decreased after the data was issued, while the exchangers praised two reduction in the federal interest rates in October and December. Low interest rates are usually a supporting factor for gold, which does not produce yields. Commercial tension and standard golden profits on another side, the fear of the increasing tension between the United States and some of its most important commercial partners emerged, after President Donald Trump doubled the customs and aluminum duties to 50%. He also described his Chinese counterpart Xi Jinping as “a very difficult person to make a deal with him.” Gold prices have risen by 30% since the beginning of the year and recorded a record in April, supported by the expansion of the US trade war, which strengthened its attraction as a safe haven. Central banks also formed a major payment power at this increase, while they continued to buy gold in the light of geopolitical tension and fear of excessive exposure to the dollar. Immediate gold rose 0.1% to $ 3,375.21 per gram at 07:41 in Singapore. The Bloomberg Instant Blue index fell 0.1%, after a 0.4% decrease Wednesday. While silver prices stabilized, platinum and bolladium rose. As far as the upcoming expectations are concerned, the US postal report is expected to be released on Friday, which is expected to show a slowdown in the growth of non -agricultural positions, while the unemployment rate remains unchanged.
Gold maintains its profits with the hedging of US expectations for interest reduction
