The price of gold is at the highest level since October after Trump's announcement of China's fees

The price of gold has risen to the highest daily since the end of October, amid the evaluation of traders of the global economy expectations at a time when President Donald Trump continues to set his view on trade and immigration policy. The alloys trade about $ 2762 per gram after an increase in the price of 1.4% in the previous session, as Trump’s threats to impose customs duties demand the demand for safe ports. The president later said he is considering imposing 10% fees on Chinese goods in response to the flow of Fentanel from the country, confirming his intention to impose import fees on Canada and Mexico to 25% in the coming weeks. Also read: from oil to minerals. Trump’s policy pushes the prices of basic commodities and investors focuses on the effects of customs duties and reduces tax followed by the Trump administration, which is likely to lead to the erosion of the country’s financial resources and inflation. It can limit the ability of the Federal Reserve to continue to facilitate monetary policy. High borrowing costs usually form opposite conditions for the price of gold, which does not possess its possession. The price of gold recorded record levels during 2024, powered by the shift of the Federal Reserve to a more facilitated monetary policy, geopolitical tensions and purchases of the central bank. The price of the precious metal can receive more support from the demand for safe havens amid concerns about the immigration policy of the new president, as well as more and more US relations with other countries. The immediate gold price rose 0.6% to 2762.51 dollars per ounce at 10:34 in London. The Bloomberg index for the immediate dollar dropped 0.2%. The prices of silver, platinum and fladium have risen.