Gold prices erase the initial decline on Monday and remain close to historical maximum due to the demand for shelter assets driven byconcerns about growth and inflationcaused by the tariffs imposed by the US president, Donald Trumpto Mexico, Canada and China.
After an initial fall of more than 1% due to strengthening the dollar American, the gold in cash is recovered and traded with a decrease of 0.2% au $ 2,795.29 the ounce, while gold futures in the US also yield 0.2% to US $ 2,829 , 40, and remain above gold prices.
25% tariffs imposed by Trump to Canadian and Mexican imports as of Tuesday, along with a 10% tax on Chinese goods, fueled the fears of a commercial war that could stop global growth and boost inflation.
Canada and Mexico announced reprisal measures, while China said it would challenge tariffs before the World Trade Organization and take unparalleled countermeasures.
The dollar at its highest level between three weeks
Gold, traditionally considered an active refuge in times of economic or geopolitical instability, reached a record of US $ 2,817,23 on Friday. However, prices backed away at the beginning of Monday when The dollar (.dxy) index shot up to its highest level in three weeks, making gold more expensive for buyers with other currencies.
He Mexican weight More than 2%collapses, reaching its lowest level in almost three years against the dollar. The president of Mexico, Claudia Sheinbaumordered the imposition of retaliation tariffs, as well as Canadawhose prime minister, Justin Trudeau, warned The Americans that the rates would have real consequences for them.
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The strengthening of the US dollar was temporarily pressing the yellow metal, but the logic of maintaining gold as a safe refuge still makes sense.
Photo: Na
“The strengthening of the US dollar was temporarily pressing the yellow metal, but Logic To maintain gold as a safe shelter, it still makes sense in a world that could be heading towards a war of tariffs, “said Giovanni Staunovo, UBS analyst.
“I still see margin for a greater rise in gold from the current levels and I hope that prices reach $ 2,850 per ounce in the coming months.”
JP Morgan warned that Batter contagion from Variable Income Markets could affect gold in the short termbut that disruptive tariffs continue to support a medium -term bullish trend for precious metal. This week’s data on employment offers in the US, ADP’s employment report and the official employment report could offer clues about the health of the US economy.
Silver in cash falls 0.6% to US $31,13 the ounce, platinum loses 1.4% to US $ 964.20 and the paladium goes back 0.3% to US $ 1. 005.25.
Source: Ambito

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