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Gold fell back after reaching:
Gold prices have slightly flexed after reaching a three -week summit on Monday. Consequently, while market attention remains focused on trade negotiations and American economic indicators. However, For its part, money has climbed to its highest level since September 2011.
The cash price of gold fell 0.1% to $ 3.350.97 per ounce at 2:44 p.m. Meanwhile, (EDT) (5:44 p.m. GMT), after reaching its highest level earlier since June 23.
Tower contracts on gold in the United States fell down 0.1% to $ 3.359.1.
The US dollar. for its part, touched a peak of almost three weeks, making the precious metal labeled in dollar more expensive for holders of other currencies. [USD/]
“After a sharp increase in prices. we are witnessing some profits; However, the gold market remains generally well supported, ”said Bart Melek, head of raw materials strategies at TD Securities.
The gold fell back after reaching European Union and South Korea have announced working on trade agreements with US President Donald Trump. The latter intensified his trade war on Saturday. announcing the taxation of a 30% rate on most imports from the EU and Mexico from next month, adding similar warnings against other countries, including Japan and South Korea.
Investors are now awaiting data on the consumer price index in the United States on Tuesday. as well as the Production Price Index on Wednesday, looking for indices on the potential trajectory of the federal reserve policy.
“The American president continues to express his wish to see the interest rates drop. which, in my opinion, supports gold fairly well,” added Melek.
The attraction of gold increases in a low rate environment, since it is a non -productive yield asset.
The cash has remained stable at $ 38.36 per ounce, after reaching its highest level earlier since September gold fell back after reaching 2011.
“The fundamentals of money are solid. the metal being in supply deficit and demand, especially in the solar sector, remaining robust,” said Nitsh Shah, strategist raw materials at Wisdomtree.
“The performance of silver catches up with that of gold, the gold/silver ratio approaching 86.”
Elsewhere, the plate has dropped 1.5% to $ 1.378.86 and the Palladium fell 1.9% to $ 1.192.56, after reaching a summit of more than eight months earlier.
Gold fell back after reaching
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