SAFE PORT RISE UNDER – CYPRUS NEWSPAPER
Gold rose again after the largest daily earnings of the last 18 months.
Gold, US President Donald Trump’s tariff plans due to the ongoing uncertainty of investors to search for a safe harbor, the last 18 months after the largest daily earnings of the last 18 months rose again.
Gold, gold, gained value up to 1.6 percent on Thursday, approached only 50 dollars below last week’s record level. This rise came after a day when gold was closed with an increase of 3.3 percent on Wednesday and the markets fluctuated hard. Gold also found support for the weakened dollar.
The rise of gold in the previous session began with the entry into force of the US tariffs for approximately 60 trade partners. This development caused turmoil in the markets, while increasing global recession concerns. Then Trump announced that it has brought a 90 -day postponement to the high tariffs implemented for 56 countries and the European Union, and these countries will now be taxed at a rate of 10 percent.
However, Trump increased tariffs for China to 125 percent immediately valid. China announced that it will apply 84 percent tax to US goods within the scope of retaliation planned to begin on Thursday.
After Trump’s decision to postpone the tariff, the markets recovered harshly. The S&P 500 Index rose by about 10 percent after a decline in the threshold of the bear market in the last week and has experienced its best day since the 2008 financial crisis.
