Gold price stability to Trump's definitions shocked

The price of gold stabilized after the decline of its highest record, as the precious metal was influenced by the pessimistic mood that swept the global markets in the aftermath of customs definition agenda of US President Donald Trump, who became more aggressive than expected. Gold initially jumped to a new standard level of $ 3,167.84 per gram after Trump announced his ‘mutual’ definitions in the White House, which imposed basic customs duties of 10% on all countries, with fees imposed on other countries at higher rates of up to 49%. However, Gold closed at 0.6%on Thursday’s transactions, as the fear increases the size of these fees and their potential negative impact on the global economy. The markets saw one of the worst days of shares on Thursday since the peak of the Corona virus Pandemic, where about $ 2.5 trillion was wiped out of the S&P 500 index alone. Although gold is usually considered a safe haven in periods of extreme uncertainty, it can sometimes be affected by violent sales when investors are forced to give liquidity to compensate their losses in other markets. Despite the shock caused by customs duties, gold is still a candidate who benefits from a commercial, economic and geopolitical environment that is becoming more volatile this year. The precious metal has increased by 20% since the beginning of the year, after a strong increase in 2024, driven by major purchases of central banks, a strong demand in Asia and reducing monetary policy by the Federal Reserve. Instant Gold’s prices stabilized Singapore time at 8:04 p.m. at $ 3,113.67 per gram to achieve the fifth weekly profits in a row. On the other hand, the silver – which was 6% on Thursday, has risen in its biggest daily decline since June – while the prices of platinum and palsmium were almost stable after extensive sale in the previous session.