Gold prices still climb with Trump's compliance with plans for customs duties

Gold prices rose slightly after US President Donald Trump announced his intention to impose customs duties on Mexico and Canada early next month, despite his decision to postpone the imposition of similar fees on Chinese imports. The prices of the precious metal rose on Monday to circulate nearly $ 2720 to the gram, as traders analyze the potential consequences for the imposition of US customs duties that could reach 25% on neighboring countries. Such a move could set fire to a new trade war between the United States and its allies. When he spoke, Trump indicated that he was also studying comprehensive fees on all foreign imports to the United States, but added that he was “not ready for it yet.” Silver is influenced by Trump’s remarks, the future contracts of silver also witnessed a short -term increase after Trump’s statements, as the March contracts jumped 0.8% to $ 31.375 per ounce before it refused later. Mexico is the largest product of silver, but it is not yet clear whether the proposed fees will include metal imports. Also read: Gold prices retain their profits with the renewed hope of continuing to reduce interest, but the likelihood of gold and silver influenced by comprehensive customs procedures has caused significant fluctuations in the market over the past few weeks, as the grants to future delivery contracts in New York have risen to high levels. The fear of inflation and monetary policy has closely monitored inflation expectations, in light of local Trump plans that include tax and increasing spending, which could lead to continuing rise in prices this year. It can limit the ability of the Federal Reserve to continue the policy of monetary facilitation. High borrowing costs usually reduce the gravity of gold because it does not produce a yield. Gold achieved a series of records in 2024, thanks to the Federal Reserve to a more facilitated monetary policy, geopolitical tension and increase the purchases of central banks of gold. The precious metal is still expected to achieve more profits with an increase in demand for safe assets amid concerns about immigration policies for the new US administration, and the possibility of increasing tension with other countries. At the same time, traders monitored the impact of the long -desire ceasefire agreement in Gaza, where Hamas released three hostages women compared to 90 Palestinians who kept in Israeli prisons. And the immediate gold prices rose 0.4% to reach 2718.81 dollars per gram at 9:58 pm Singapore, after it recorded a 0.2% increase on Monday. The Bloomberg index for the immediate dollar also rose 0.4%. On the other hand, the prices of silver, platinum and bolladium dropped.