The metal, considered an active shelter, rose 1.1% au $ S3.337.56 the ounce. The market monitors the evolution of commercial negotiations between the US and China.
Gold reversed the loss of beginnings of day And he cut a run of two falls to the thread, with the beginning of the search for bargains, while market attention focused on commercial evolution between the United States and China and a series of economic data.
Cash gold won 1.1% Au $ S3.337.56 The ouncehaving fallen up to 1.8% previously in the session. American gold futures rose 1.5%, AU $ S3.348.94.
The causes of gold rebound
“We are starting to see the First indications of sales exhaustion“Said Daniel Ghali, a strata of raw materials of TD Securities, adding that the downward risk of gold is extremely limited.
“Western investors, in particular discretionary operators or macro funds, have been completely subposition in this last stage of gold rebound and, as a result, sales activity is limited and gold prices are rising as a reflection of it,” he added.
The ingot, a traditional coverage against political and financial instability, reached a historical maximum of US $ 3,500,05 the ounce last week due to the high uncertainty.
The commercial war concentrates the attention of investors
The president of the United States, Donald Trump, states that progress has been made with China. However, Beijing has denied That trade negotiations and Treasury secretary, Scott Besent, did not support Trump’s statement that tariffs with tariffs with China were carrying out.
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The risk that the world economy enters recession this year is highaccording to most economists surveyed by Reuters.
This week the report of employment vacancies in the United States will be known on Tuesday, the personal consumption expenses on Wednesday and that of non -agricultural payroll on Friday. Market participants will analyze these positions to evaluate the impact of the latest tariffs on the US economy.
Source: Ambito
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