Gold prices have reached an unprecedented level today, Tuesday, with the increase in demand for investments in the assets of safe haven due to fears that American anti -customs duties may increase inflationary pressures and impede global economic growth.
Gold rose 0.38% to 3136 dollars an ounce in immediate transactions, after he recorded the highest level ever at 3149 dollars during today’s trading.
US gold futures rose 0.55% to 3167.50 dollars.
Gold prices in the last session recorded the best semester performance since 1986.
Customs
“Awaiting the application of US anti -customs duties tomorrow, Wednesday, prompting the market to take a defensive position by reducing risks and heading towards gold as a safe havens for hedging from possible fluctuations in investment portfolios,” said the market analyst in IG, YP John Rong.
He added: “Technical indicators show that the basic factors of the market do not justify the continuous rise in prices in the near term, but the uncertainty related to customs duties is likely to support gold at the present time, and it seems that buyers are looking to test the level of 3200 dollars.”
US President Donald Trump has pledged to announce a wide customs duties plan tomorrow, Wednesday, which was called “Liberation Day”, and will include the counter -tarit duties that all countries will announce.
Trump looks at customs duties as a way to protect the American economy from an unfair global competition.
The markets closely monitor the customs duties on cars, which will enter into force on April 3.
Gold prices tend to rise in light of economic and geopolitical instability and flourish in the low interest rates environment.
Trump’s liberation day
It is a term used by President Trump to refer to April 2, 2025, where he intends to announce the imposition of customs duties on the trading partners of the United States, with the aim of correcting what Trump considers unfair commercial practices that negatively affected the American economy.
Fees are expected to include a wide range of imported products, with a focus on the sectors that Trump sees was damaged by unfair commercial practices.
According to Trump’s advisers, these fees may generate about 600 billion dollars annually, which means that the average fee rate on all goods will be about 20%.
Expected data
The expected data in the United States this week includes a job report that is issued later today, Tuesday, the recruitment report that will be issued by the ADB Research Institute tomorrow, Wednesday, and job report in non -agricultural sectors on Friday. This data will provide indicators on the American monetary policy path.
As for other precious metals:
- Silver in instant transactions fell 0.34% to $ 34 an ounce.
- Platinum fell 0.17% to 996.82 dollars.
- Palladium fell 0.37% to $ 990.30.
