Gold descends to the lowest level in the last 3 weeks
This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from Hibapress, the Arabic version:
Heba Press – Agencies
Gold prices have dropped, in Friday trade, at their lowest levels in more than 3 weeks, continuing to decrease in a wide wave of sales on the market.
This comes with investors selling precious metal to cover losses in other transactions, in the midst of fears of world stagnation due to the escalation of the trade war.
At 09:55, time in Moscow, immediate yellow metal contracts decreased by 0.32% to $ 3028.43 per ounce. Earlier in the session, immediate contracts fell by more than 1% to reach its lowest level since March 13.
This came, unlike the golden term contracts for next June (Comex), which increased slightly by 0.14% to $ 3039.70 per ounce.
Gold fell by more than 3% last Friday, after the customs functions imposed by US President Donald Trump, who was more important than expected, have caused a wave of world markets.
China has responded with a series of counter measures, in particular by imposing 34% additional costs on all American goods and imposing restrictions on exporting certain rare minerals.
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