The price of gold lowers its profits to a group of US classification reductions

The price of gold has risen slightly, although it has lowered the profits it achieved earlier in the session, as it has strengthened the increasing concern about economic expectations and the US budget deficit demanding safe haven assets. The precious metal trades more than $ 3218 per gram after it increased by 1.4% in the morning trading in Asia. This came after the ‘Moody’s’ credit rating agency announced late Friday that the US government’s higher credit rating from AAA to (AA1) had blamed the successive budget deficit deficiency. “While we are aware of the major economic and financial strengths of the United States, we believe that these points are no longer completely compensated for the decline in financial indicators,” Moody’s said in a statement. The price of gold that has varied in recent months has varied in the prices of the precious metal. The biggest weekly loss has been incurred against the background of geopolitical tension since November last year, after a sharp rise in which the first time last month was $ 3500 per gram. Gold is still high as one -fifth of this year, powered by global conflicts, customs duties imposed by US President Donald Trump, and flow to the revamped indicators. “We expect gold to be characterized by short-term volatility, where we see a mix of good and bad news,” according to Faso Mennon, the managing director dealing with the investment strategy at Overness Banking Corp. He added: “In the long run, Trump’s policy and diversification of investments is away from the assets that are in the dollar dollar, and it is a structural factors.” The price of gold rose 0.5% to $ 3218.30 per ounce at 13:04 Singapore time. The prices of silver, albadium and platinum rose slightly.