The yellow metal continued its standard rise – today, Thursday – amid investors’ demand for safe haven, in light of the escalation of global tension between the United States and its commercial partners.
Gold rose in instant transactions 0.1% to $ 3346.20 an ounce by 00:08 GMT, after touching its highest level ever at $ 3357.40 an ounce earlier in the session.
US gold futures increased 0.4% to $ 3359.50.
The price of gold yesterday penetrated the barrier of $ 3,300 an ounce, and recorded unprecedented high levels.
In a new escalation of tension with his commercial partners, US President Donald Trump ordered – the first of yesterday – to conduct an investigation into the need to impose possible new customs duties on all basic mineral imports, in addition to the reviews of pharmaceutical and chips imports.
Beijing has ordered the airlines not to receive more Boeing aircraft, while the US government has placed restrictions on the exports of Invidia from the artificial intelligence chips “H20” to China.
Gold jumped more than 27% since the beginning of the year until now. The precious metal is usually seen as a means of hedging from high inflation and in times of political and economic fog.
On the other hand, the dollar fell against its competitors to remain near the lowest level in the 3 years that it scored last week, which makes gold more attractive
For other currencies.
As for other precious metals:
- Silver in instant transactions increased 0.1% to $ 32.78 an ounce.
- Platinum rose 0.2% to 969.05 dollars.
- Palladium fell 0.7% to 964.75 dollars.
