Gold prices stick to the rise and Trump decisions increase the question

Gold prices stabilized near their highest level after President Donald Trump’s order to impose the definitions of rewashing uses on various countries increased the uncertainty about trade and the global economy. The price of alloys in trades has reached about $ 2930 an ounce, which puts it on the road to achieve profits for the seventh week in a row, which is the longest range of profits since August 2020. Trump signed a measure on Thursday a procedure that directs the US commercial representative and trade in trading to set up new customs definitions on the basis of each country, a process that can take a time to take it. The mutual rates will be the widest movement Trump made to address the US trading deficit, but his decision can be seen not to implement it immediately as just an opening step to negotiate instead of a final commitment to move forward. Gold and Trump fees have already imposed 10% customs definitions on Chinese goods, and he plans to impose 25% fees on all US steel and aluminum imports next month. Gold reached a record level of $ 2942.68 per gram on Tuesday, as Trump’s destructive movements of trade and geopolitical tension emphasize the role of gold as a safe haven in times of uncertainty. Investors are trying to analyze the potential consequences on the US economy and monetary policy if the White House policy leads to high inflation and slowdown. Also read: Trump is guided by revenge Customs: Are the rules of the commercial game change? Banks expect gold to reach $ 3,000 an ounce amid continuing demand for safe assets, as City Group said last week that it expects prices to reach this level within three months. Central banks, including China, also strengthened their golden reserves, while golden boxes were witness to an expansion, which has contributed to the increase in the yellow mineral by 12% since the beginning of the year. The immediate gold price The immediate gold price rose 0.1% to $ 2930.93 per gram at 08:04 in Singapore, which achieved weekly profits by 2.4%. The Bloomberg’s immediate dollar immediate index held after it fell 0.7% in the previous session, while the prices of silver, platinum and bolladium stabilized. Elsewhere, investors ignored the high inflation data, amid indications that the preferred index of the Federal Reserve for price measurement could be weaker than expected. The product price index in January rose by more than expectations, but some of its components that fall into the personal consumer index, which is the preferred measure of the Federal Council, came more moderately last month. Traders will monitor the report of the upcoming personal consumption expenses on February 28 in search of more signals about reducing the monetary policy of the central bank. Low borrowing costs usually strengthen gold as it does not benefit.