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Gold stabilizes after reaching three:
Gold prices stabilized on Monday. Moreover, after reaching a three -week summit, while the attention of the markets remains focused on commercial negotiations and American economic indicators. Nevertheless, At the same time, money has climbed to its highest level since September 2011.
The cash price in cash remained almost unchanged at $ 3.356.95 per $ at 9:37 am EDT (1:37 pm), after having touched its highest level earlier since June 23.
The golden contracts on gold in the United States remained stable at $ 3,365.30.
“After a sharp increase in prices. we are witnessing profits; However, the gold market remains generally well supported, ”said Bart Melek, head of raw materials strategy at TD Securities.
The European Union and South Korea said they were working on trade agreements with US President Donald Trump. The latter intensified his trade war on Saturday. announcing gold stabilizes after reaching three the imposition of a customs rate of 30 % on most imports from the EU and Mexico from next month, adding similar threats to other countries, including Japan and South Korea.
Investors are now awaiting data from the consumer price index in the United States on Tuesday. as well as the Production Price Index on Wednesday, in order to obtain indications on the possible trajectory of monetary policy of the Federal Reserve.
The market is currently anticipating a high probability of rate drops of 50 basis points by the end of the year.
“The American president continues to declare that he wants to see interest rates lower. I think that it remains, in the end, quite favorable to gold,” added Bart Melek.
The attraction of gold increases in a low interest rate environment. as it is an asset that does not generate yield.
Signing money increased by $ 38.78 per gold stabilizes after reaching three $ 38.78, reaching the highest level earlier in the session since September 2011.
“Money benefits from solid fundamentals. metal being in a situation of supply deficit and demand, especially in the solar sector, remaining robust,” said Nitesh Shah, strategist raw materials at Wisdomtree.
“The performance of silver catches up with that of gold, with the gold/silver ratio approaching 86”.
Elsewhere, the plate fell 2.4 % to $ 1.365.19 and the Palladium dropped by 2.6 % to $ 1.183.75, after reaching a summit of more than eight months earlier.
Gold stabilizes after reaching three
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