Gold jumps to $ 3500 with an escalation of tension between Trump and Powell economy

Gold prices reached a standard peak and touched the 3500 dollar threshold today, Tuesday, after fears caused by the criticism of US President Donald Trump to the President of the Federal Reserve (Central Bank) Jerome Powell to distance the risk and prompted investors to accept gold as a safe haven.

Gold increased in instant transactions 0.93% to $ 3456.29 an ounce, in the latest transactions, after it touched a high record at $ 3500.05 an ounce earlier in the session.

US gold futures increased 1.33% to $ 3470.90, after registering $ 350.9.

Reuters quoted the chief market analyst in KCM Test, Tim Water, as saying: “Investors are largely avoiding American assets amid concerns about customs dramatic dramatic dramas and (Trump and Powell, which kept gold in an excellent position to take advantage of the dollar problems,” Reuters quoted the chief market analyst in KCM Test, Tim Water.

Reducing

Trump reiterated his call to reduce interest rates on Monday, warning that the American economy might face a slowdown, while Powell’s position of keeping interest rates unchanged until the impact of customs duties plans on inflation.

Asian stock markets have faced difficulty in maintaining their stability after rapid sales of American assets that weakened Wall Street and the dollar.

On Monday, China accused Washington of insulting the use of customs duties and warning countries against concluding broader economic agreements with the United States at its expense.

Gold is a safe haven in the face of economic fog, and nearly 33% have increased since the beginning of the year.

The markets are awaiting comments from several Federal Reserve officials this week, in the hope of obtaining indicators on the path of monetary policy amid concerns about the independence of the central bank.

As for other precious metals, its performance was as follows:

• Silver in instant transactions increased 0.12% to $ 32.71 an ounce.
• Platinum increased 0.95% to $ 976.30.
• Palladium rose 1.12% to 941.50 dollars.