Gold prices are near record levels amid growth in growth

Gold prices have recorded a slight increase after exceeding the hindrance of $ 3,000 per gram on Friday, as economic growth has delayed the impact of government closure in the United States. The precious metal was traded near $ 2990 an ounce, after falling from the highest level ever, which amounted to about $ 3005, after the US Senate approved a Republican spending plan, which paved the way for a government financing package. The markets are still monitoring the effects of commercial policies of former US President Donald Trump, which contributed to the entry of the S&B 500 in the correction phase last week before recovering on Friday. This increase came at the end of a week, which was witness to prominent developments, including implementing the latest decisions of US administration to impose customs duties and the escalation of the fear of the recession, as well as political discussions related to the future of Ukraine. Trust in high prices, increased uncertainty and the increase in demand for safe havens in gold prices by 14% since the beginning of the year, which strengthened the precious metal gains during 2024. The confidence of the banks increased the ongoing high prices in continued high prices, as it was goals that seemed unreasonable for many investors. Last week, the “Macquari” group expected prices to reach $ 3,500 per ounce in the second quarter, while “BNB Pariba” increased its expectations to show the average rate higher than $ 3,000 an ounce. On the other hand, investors are awaiting a chain meetings for central banks this week, amid the testing of the policy of former US President Donald Trump to tolerate policymakers. In the United States, Federal Reserve chairman Jerome Powell faces a challenge to ensure investors about the durability of the economy, while emphasizing the willingness of the central bank to intervene as the need arises. By 08:22 in Singapore, immediate gold rose 0.2% to $ 298.58 per ounce, after scoring weekly profits by 2.6%. On the other hand, there was no change in the “Bloomberg” index of the immediate dollar, while the silver turned off, and both platinum and Albadium withdrew.