Gold has crossed the key level of $ 3,200/OZ for the first time to climb a new summit on Friday, fueled by a lower dollar and an escalation of the trade war that prompted investors to rush to the refuges assets.
The cash in cash increased by 1.3 % to $ 3,216.48 per ounce at 2 h 30 GMT. The Lingot reached a historic summit of $ 3,219.73 earlier in the session, earning more than 5% for the week.
US Gold’s term contracts increased by 1.9 % to $ 3,236.00.
“The rapid weakening of the US dollar seems to be the main engine of the gold rebound at the moment. This seems to reflect a continuous exodus of dollar assets, with the fall in stocks and obligations in a context of uncertainty on tariff policy,” said Ilya Spivak, responsible for global macro-economy at Tastylive.
The dollar has dropped, which made the gold bars cheaper for foreign buyers.
The main stock market indices also dropped after US President Donald Trump increased customs duties on Chinese imports to 145 %, but granted a 90 -day break on customs duties previously announced for dozens of countries.
-China has responded to each increase in customs duties by Mr. Trump by an increase in his own rights, which raises fears that Beijing will increase customs duties in the United States beyond the current 84 %.
“The figure of 3,500 dollars is the next round figure that people are considering. I think we will not succeed immediately or smoothly,” said Kyle Rodda, financial market analyst at Capital.com.
In addition to customs duties, the demand for central banks, the expectations of reducing interest rates by the federal reserve, geopolitical instability in the Middle East and Europe, as well as the increase in flows to the funds negotiated on the stock market backed to gold have also fueled the increase in metal this year.
Consumer prices in the United States have dropped unexpectedly in March, but the risks of inflation are on the rise, according to available data.
The traders now bet that the Fed will start to reduce its rates in June and that it will probably reduce them from a complete percentage point by the end of 2025.
Cash money fell 0.2 % to 31.13 dollars an ounce and the plate dropped by 0.4 % to 934.20 dollars. Palladium increased 0.7 % to 914.70 dollars. (Report of Anjana Anil and Anushree Mukherjee in Bengaluru; editorial staff of Sumana Nandy and Sherry Jacob-Phillips)
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