The gold prices They extended their profits this Tuesday, March 3, promoted by the SAFE REFUGE DEMAND while commercial conflicts began after the president of the United States, Donald Trump, imposed new tariffs on the three main commercial partners of the world’s largest economy.
Cash gold rose 0.8% au $ 2.917.61 The ounce, with what chained his Second consecutive rise. The ingot has won a 10% so far this year and reached a historical maximum of US $ 2,956.15 on February 24.
American gold futures rose around 1% Au $ 2,928.90.
Investors come together to emerging central banks in the purchase of gold
The new 25% Trump tariffs to imports from Mexico and Canada entered into force on Tuesday. He also doubled tariffs on Chinese products at 20%. China immediately contracted with additional tariffs of 10% -15% on certain US imports as of March 10 and a series of new export restrictions for designated American entities.
“With Trump 2.0 generating exactly the chaos it promised in the US elections, Western investors are joining the central banks of emerging markets in the purchase of gold as coverage for all types of climate,” Adrian Ash, head of market research online Bullionvault said.
The operators now expect the Wednesday ADP employment report and the US non -agricultural payroll report on Friday to obtain clues about the trajectory of the Federal Reserve interest rates.
“Any indication of slowing the US economy would support the requests for more features of the Federal Reserve and would support the price of gold. We are still waiting for gold to try the maximum in the coming weeks,” Giovanni Staunovo said, UBS analyst.
The American Central Bank held stable interest rates at its last meeting. The type cut in June is expected to resume and could reduce the costs of short -term loans in September.
JPMorgan said he hopes that gold will approach US $ 3,000 the ounce in the fourth quarter of 2025.
Among other precious metals, the money in cash rose 0.4% au $ 31.80 the ounce, the platinum advanced 0.2% au $ S954.81 and the paladium earned 0.3% au $ S940.80.
Source: Ambito
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