Gold rises with the warning of traders to aggravate the trade war

The price of gold has risen with the warning of traders for the United States that increases customs duties on Chinese goods to 104%, in a step that is expected to be responded to, hoping to avoid a global, fierce trade war. The price of gold rose by 1% on Wednesday. President Donald Trump is moving forward to set the customs duties higher at about 60 commercial partners, including China, which he described as ‘the worst offenders’. These drawings are scheduled to implement New York time after midnight. Gold was witnessing a standard height wave during which an unprecedented level reached $ 3167.84 per gram last week, powered by a significant increase in purchases by investors seeking safety, amid the fear that a global trade war would lead to economic recession. Market disorders and increased fees are the price of gold from those high levels, with the size of the Trump plan to impose customs duties -injecting the fact that the metal is a safe traditional sanctuary, serious disorders in the markets can push investors to sell their losses in other investments. “Gold recovery reflects the increasing investors’ concerns about customs duties and the possibility of reforming world trading rules,” says Christopher Wonging, Oversea-Chinese banking. He added that gold is still a good way against the fluctuations of the global economy. The precious metal is still seen as more chances of rising, after it has risen by more than 13% since the beginning of the year thanks to the purchases of central banks, and the flow to the circulating indicators. The federal can also reduce the market interest. It also expects increasing fluctuations to drive the Federal Reserve to accelerate the rate of interest rates to avoid economic recession. Gold, which does not generate yields, usually benefits from low interest. The price of gold rose to $ 3016.71 per gram at 05:37 GMT, and the price of gold for immediate delivery increased by 0.6% to $ 3001.33. The Bloomberg index for the Republic of Dollar also fell 0.3%. While silver prices fell slightly, and the prices of Albladium and Platinum remained unchanged.