The metal was driven by the demand for sure shelter, since the new tariff threats of Donald Trump’s president amplified concerns about the commercial war and inflation.
Gold marks a new record on Monday and breaks the key level of US $ 2,900 for the first time, promoted by the demand for sure refuge, since the new tariff threats of the president of Donald Trump amplified the concerns about the commercial war and inflation.
Cash gold rose 1.6%, to 2,905.25 dollars per ounce, After touching a Historical maximum of 2,910.99 dollars at the beginning of the session. American gold futures advanced 1.5%, at $ 2,930.90.
“Obviously, the tariff war is behind the climb; it only reflects more uncertainty and more tension in the situation of world trade,” Said Marex Edward Meir analyst.
Trump announced plans on Sunday to impose a additional tariff of 25% to all imports of steel and aluminum, In addition notice that will decree reciprocal tariffs this week, matching the rates imposed by other countries and applying them immediately.
Tariffs could exacerbate inflation, and investors are at Waiting for consumption price index (CPI) data and of the United States Producer (IPP) Price Index that will be published at the end of the week. Also the president of the Fed, Jerome Powell, will testify to Congress on Tuesday and Wednesday.
In other metals, Silver in cash rose 1%, to $ 32.12 an ounceafter reaching a maximum of three months on Friday. The platinum added 1.1% to $ 986.80 and the paladium earned 2.2% to $ 985.50.
Source: Ambito
