Gold still climbs to the largest daily profits in 18 months

Gold rose slightly after it recorded its biggest daily profits in 18 months in the previous session, as the confusion over the agenda of customs duties of US President Donald Trump forced investors to buy the precious metal as a safe haven. One day full of fluctuations in the market Wednesday, the gold jumped 3.9% during the session before closing 3.3%, to become only $ 100 of the highest level ever, and registered last week. The initial increase in gold prices during the previous session came after US fees came into effect at about 60 commercial partners, who fueled the turmoil of the market and raised concerns about a global economic stagnation. Trump then announced a 90 -day remark about the mutual fees imposed on 56 countries and the European Union, where they will now be imposed basic fees at a 10%rate. However, a commercial war with China also increased Trump on China to 125%, which was immediately applicable, after Beijing announced from Thursday to respond with 84% fees. These developments have increased concerns that the two largest economies in the world could slip into a devastating trade war. The markets rose after Trump announced the suspension of the fees, as US shares recorded their best daily performance since the financial crisis, and the “S&B 500” index jumped by about 10% after it was on the point of entering a falling market over the past week. The ongoing fluctuation in US administration’s policy on customs duties has destroyed world markets, while investors are trying to find a compass in the midst of fog. This trend has supported gold prices, which have risen 18% since the beginning of the year. The metal was also supported by the hope of more cash facilitation of the federal reserves and the purchase of central banks. The immediate gold price for immediate delivery rose 0.2% to $ 3,088,32 per ounce, at 8:20 a.m. Singapore. The ‘Bloomberg for the Instant Dollar’ index fell for the second consecutive day. As for the silver, it decreased, while the palladium rose slightly, and platinum prices dropped unchanged.