Gold prices have risen to the highest level ever, after it has risen about 1% in the previous session, as the beginning of the trade war between the United States and China has lit the demand for safe ports. Gold prices reached the highest level ever at 2877 dollars per ounce on Wednesday after President Donald Trump imposed a 10% import duties on Chinese imports the previous day, which led China to respond quickly but was more targeted. The dollar index fell on Tuesday, which made many buyers cheaper, with the acceleration of losses after the US post report, indicating a gradual slowdown in the job market. China’s response was quieter compared to Trump’s first period, as Beijing previously responded with customs duties almost equal to those imposed by the United States, but there is still much concern about the impact of this on the two largest economies in the world. The markets are also waiting to know if there is an impact on US monetary policy, or customs duties make inflation anew again. The precious metal is expected to benefit from this future view, although it may lose part of its brilliance if interest rates continue to rise. Also read: China responds to Trump with fees on US products and achieves with ‘Google’. The immediate price of gold increased by 1% to $ 2870.09 per ounce at 12:32 pm in London. The Bloomberg index of the dollar was 0.1% low, after losing 0.7% on Tuesday. The price of silver and platinum has risen, while palladium has dropped. Commercial war concerns stimulated the precious metal markets, even before Trump began to impose the customs duties on China. Gold and silver prices in the United States have seen an increase over international indicators over the past few weeks, which traders and distributors have asked to export large amounts of minerals to America before the fees came into effect. This chaos also led to high lending rates for gold and silver, which is the return that lends metal containers in London cabinets on a short -term basis.
Gold prices are the highest level with the increase in the trade war
