Gold prices record a new standard level
This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from Hibapress, the Arabic version:
Heba Press – Agencies
Friday, the term contracts on trade today, reached a new record, in the midst of investors’ request for Safe Haven in the light of unrest in the world markets.
At 08:25, Moscow’s time, the term contracts on yellow metal (Comex) increased by 1.75% to reach $ 3,232.97 per ounce, and shortly before contracts reached a historic level at $ 3,240.2 an ounce.
Gold demand increases as a refuge in the event of a state of geopolitical uncertainty or tension in the global economy, which supports its prices.
Gold prices have also received support from the drop in the dollar, which reduces the value of precious metal for other currencies.
China is on the same approach as US President Donald Trump follows in the increase in customs tasks, which has feared that Beijing could impose customs tasks in the United States with a current rate of 84%.
“3500 dollars is the following level. I think we will not reach it immediately or without obstacles. »»
In addition to customs duties, the demand for central banks, expectations to reduce interest rates in the American federal reserve, geopolitical instability in the Middle East and Europe, and the increase in flows to gold back indicators, increased the price of yellow metal this year.
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