Gold prices recorded a standard peak that exceeded the level of 3 thousand dollars today, Tuesday, for the second time in a week, with investors seeking hedging from economic fears due to US President Donald Trump’s commercial policies, and after the Israeli bombing of the Gaza Strip.
gold
The price of gold in instant transactions increased to $ 3028.49 an ounce, before declining slightly to 3020 high 0.65%.
Gold exceeded the barrier of $ 3,000 an ounce for the first time on Friday.
US gold futures rose 0.82% to $ 3030.90.
Gold is always a hedge of geopolitical instability, and has jumped more than 14% since the beginning of the year.
Since Trump took office last January, gold has scored his record highest 14 times, as commercial tension has strengthened the demand for safe haven.
Trump put forward plans for a series of American customs duties, starting with fixed fees of 25% on steel and aluminum that came into effect in February, and mutual databases and on certain sectors that he said would be imposed on April 2.
“Gold is witnessing a noticeable increase due to the weakness of the dollar and the continuation of the uncertainty about customs duties,” said Edward Mayer, an analyst at Maricks.
Meanwhile, medical sources said that Israeli air strikes killed more than 400 Palestinians in the Gaza Strip today, without any indication of progress in resuming talks regarding the continued ceasefire agreement between Israel resistance in the Strip.
The performance of other precious metals was as follows:
- The price of silver in instant transactions increased 0.78% to $ 34.11 an ounce.
- Platinum increased 0.14% to 1007.67 dollars.
- Palladium rose 0.85% to 979 dollars.
Currency
The dollar settled above its lowest level in 5 months against the main currencies today, Tuesday, with investors anticipating the latest economic expectations from the Federal Reserve (the US Central Bank) in light of fears of the consequences of escalating trade tension in the world.
The euro settled without its highest level since last October, which he recorded last week at $ 1.0947 before an expected vote on a huge motivation proposal in Germany, while the yen abandoned some of his recent gains due to the demand for safe haven.
Fears of the possibility that Trump’s policies on customs duties will create a broader economic slowdown to the dollar’s decline with a group of opinion polls that showed a decrease in American consumer morale.
It is expected that the Federal Reserve, Japan Bank, England and a few central banks will prove interest rates in their meetings this week, so that investors’ focus on any instructions from officials on the future will continue.
The US Central Bank will also publish new economic forecasts, providing investors the largest concrete evidence so far on the way the Federal Reserve officials see the potential impact of the Trump administration policies on the economy.
“The inflation expectations have increased and the morale has decreased, it is a very confusing stage, and I do not think that the Federal Reserve has sufficient data anyway,” said the director of the State Sterett branch in Tokyo Bart and Akapayshi.
Investors are currently expecting that the Federal Reserve will reduce interest rates by about 60 basis points over the rest of the year.
The dollar index – which measures the performance of the US currency compared to 6 main currencies – decreased by 6% compared to the highest level in the two years, which it reached in mid -January at 110.17 points.
0.11% fell to 103.26 points in the latest reading, away from the lowest level in 5 months at 103.21 points, which he touched last Tuesday.
The euro rose slightly in the latest transactions to $ 1.948.
On Monday, the Constitutional Court in Germany rejected a new stabbing from opposition parties on the upcoming coalition government plan to pass a huge public borrowing initiative through outgoing parliament.
This decision paved the way for parliament today to consider the issue.
The yen fell from the highest level since last October, which he recorded last Tuesday at 146,545 for the dollar.
The dollar rose 0.39% to the highest level in almost two weeks at 149.79 yen, before declining slightly to $ 149.74.
The British pound recorded $ 1,2998 to remain close to the highest level since November 7, which was recorded on Monday at $ 1.2999.
