Gold reached a three -week summit on Monday, supported by an increased request for refuge values after US President Donald Trump threatened to impose customs duties on the European Union and Mexico, while money has affected an unprecedented peak for almost 14 years.
The cash in cash increased by 0.4 % to $ 3,367.51 per ounce at 9:57 am GMT, after having reached its highest level earlier since June 23.
Tower contracts on gold in the United States gained 0.5 % to $ 3,379.30.
On Saturday, Donald Trump announced his intention to impose a customs rate of 30 % on most imports from the EU and Mexico from 1is August, in addition to similar warnings against other countries.
The European Union and Mexico both qualified these customs rights as unjust and disruptors. The EU also indicated that it would extend the suspension of its countermeasures at the American prices until the beginning of August, while continuing its efforts to achieve a negotiated regulation.
“Trump’s customs duties support the request for refuges assets, and gold is the main beneficiary,” analyzes Giovanni Staunovo, a specialist in raw materials at UBS.
On the indicators front, operators await this week the figures for the Consumer Price Index (ICC) and the Production Price Index (PPI) in the United States, in order to obtain indications on the orientation of interest rates of the Federal Reserve.
Investors currently anticipate 50 basis of the reduction in Fed rates by the end of the year, from October. Gold tends to behave well in a low rate environment.
In addition, Indian investors, traditionally fond of gold, are turning more and more towards silver, whose performance is surpassing those of yellow metal this year.
Signing money appreciated 1.7 % to $ 39.02 an ounce, after reaching its highest level earlier since September 2011.
According to Staunovo, the outbreak of money “is fueled by speculative flows, the metal having crossed technical thresholds of resistance”.
In a note, Anz believes that the crossing of the fork of the $ 35-37 by money could trigger new technical purchases and propel prices to $ 40.
The platinum fell 1.2 % to $ 1,382.72. Palladium increased by 1.3 % to $ 1,230.87, its highest level since the end of October 2024.
