Gold prices fell after President Donald Trump imposed comprehensive customs definitions on the import of Canada, Mexico and China, at a time when the dollar was overwhelmed by the demand for safe haven, as the world is ready for commercial wars. The alloys reduced part of its losses for trading about $ 2790 an ounce, but it remained near the highest level it reached on Friday, while the US dollar index rose by about 1%. The inflationary impact of customs duties between the largest economies of the world can keep the borrowing costs high, which is the opposite golden winds that offer no benefit, while the height of the dollar makes it more expensive for many buyers. “These dynamics are increasing the demand for safe haven at the moment,” says Christopher Wong, a strategic expert on the Oversea-Panking Corp. “Definitions and Counseles aspects The United States announced the 25% fees on goods from Canada and Mexico, and 10% of China. Canadian energy imports will be determined on Tuesday. Ottawa has opposed 25% on US commodities, a failure of a remuneration of a statement.” to set up, which said it would be sturdy. It is likely that the long -term impact of customs duties is negative on the dollar, as long -term protection can lead to the erosion of the US economic hegemony. The immediate gold price fell 0.6% to $ 2782.94 per gram at 09:26 in Singapore, after it rose 1% last week. The “Bloomberg” index for the immediate dollar increased by 1.1%, after it rose 1% last week. The prices of silver, platinum and fladium dropped.
Gold prices drop as a result of the strong dollar due to Trump fees
