Gold increases its weekly profits after Trump's commercial threats

The price of gold rose 2.1% on Friday, approaching weekly profits by 5%, after US President Donald Trump threatened to impose comprehensive customs duties on the European Union and Apple, strengthening demand for safe assets. Trump has announced that the United States will impose 50% definitions on the import of the European Union from the first June, saying that “discussions with the union are making no progress.” Apple also threatened to impose fees of no less than 25% if the iPhone phones are not made in the United States. Gold wins by 25% this year, this year has exceeded 25% this year, separating only $ 150 from its record summit last month. This increase is due to the economic consequences of the US trade war, which have urged investors to avoid shares of unrest in the world trade. The demand for gold was also received as a safe haven in support of concerns about the financial situation of the US government. After Moody’s decision to reduce the United States credit rating, it raised concerns that Trump’s tax law, which was approved in the House of Representatives and is now submitted to the Senate, will aggravate the budget deficit. Despite the rise of the US Treasury bond yields this week for ten years to about 4.5%, and they usually put pressure on gold that achieves no returns, the traditional reverse ratio between returns and gold prices has become weaker, in light of the preference of investors for secure ports at the expense of high returns. In a parallel context, the price of platinum rose to its highest levels in two years and is on its way to achieving weekly profits of more than 10%, in its strongest weekly performance in more than four years. By 11:33 pm New York, the price of gold was traded, with 1.9% higher than $ 3,357,78 per gram. The Bloomberg Instant Dollar Index fell by 0.6%, on the way to weekly losses. The silver price also rose, while the price of palladium fell.