Gold prices were firmed on Tuesday, while concerns related to the World Trade War stimulated demand for refuge assets, while investors are waiting for a key publication on inflation in the United States.
The cash in cash increased by 0.4 % to reach $ 3,354.84 per ounce at 11:53 GMT. US gold contracts gained 0.1 % at $ 3,363.40.
The US dollar fell 0.1 %, making gold cheaper for buyers holding other currencies. [USD/]
“Gold is appreciated while buyers seek to enjoy a slightly lower dollar today,” said Han Tan, market chief analyst at Nemo.Money.
“Gold benefits from many support factors, whether it is the expectations of decreasing Fed rates, the pricing threats from the American president Donald Trump, or even persistent geopolitical and economic risks. »»
Donald Trump intensified his trade war on Saturday, announcing a 30 % tax on most imports from the European Union and Mexico, after launching warnings similar to other business partners.
The European Union replied on Monday by accusing the United States of obstructing the conclusion of a trade agreement and threatened to take retaliatory measures in the absence of an agreement.
On the geopolitical level, Trump would have, according to the Financial Times, urged Ukraine in private to intensify its strikes in depth on Russian territory, going so far as to ask the Ukrainian president Volodymyr Zelenskiy if Moscow could be targeted with long -range American weapons.
The Kremlin said Trump’s recent statements on Tuesday, including a threat of sanctions against Russian export buyers, were serious and required in -depth analysis.
In addition, the Report on the Consumer Price Index (IPC) in the United States, expected at 12:30 p.m. GMT, could give investors new elements on the orientation of the monetary policy of the Federal Reserve.
American consumer prices would probably have increased in June, potentially marking the start of an increase in long -awaited inflation, induced by prices, which encourages the Fed to prudence concerning a recovery of rate reductions.
Elsewhere, cash increased by 0.2 % to $ 38.22 per ounce, after reaching its highest level on Monday since September 2011.
“If the current ratio between gold and silver is maintained, with gold above $ 3,440/oz, we will see the money exceed $ 40/oz,” said Nitesh Shah, strategist raw materials at Wisdomtree.
Platinum increased by 1.6 % to $ 1,385.60, while Palladium increased by 1.8 % to $ 1,215.30.