Gold close to the record level – Cyprus Newspaper
Gold watched horizontal with supporting the demand for safe harbor.
Following a two -day decline, Gold watched horizontal with economic and geopolitical risks supporting the demand for safe port demand.
Gold was traded at $ 3,022 per ounce, while it was close to the record level it reached on Thursday. US President Donald Trump’s so -called mutual tariffs are expected to be as hard as threatened before. According to officials familiar with the issue, the White House plans to exempt some countries and is currently intending to create trade barriers for certain sectors.
Chinese Prime Minister Li Qiang said that Asia’s largest economy is still prepared for tariff shocks, while Australian Treasury Minister Jim Chalmers warned US policies on the “shocking” effect on the global economy.
The market continues to be cautious about the possible effects of tariffs and the possibility of Trump’s upset geopolitical order. Gold has won 15 percent since the beginning of the year, taking advantage of this uncertainty and for the first time it increased over $ 3,000. Powerful Central Bank purchases and interest rate reduction expectations also supported the rise of precious metal.
As of 08:26 at Singapore time, spot gold remained constant at $ 3,022,15 per ounce. Gold, which gained 1.3 percent last week, watched horizontal with the Bloomberg Dollar Spot Index decreasing 0.1 percent. Silver, platinum and paladium rise.
