Gold descends amid indications of Trump's tenderness in the commercial dispute with Europe

Gold has decreased as his position was damaged as a safe haven, due to the indications of the possibility that US President Donald Trump alleviates his strict position on trade with the European Union, after expanding the final deadline for the application of large -scale duties. The alloys have been rotating about $ 3,350 per gram, after rising by about 5% over the past week, at a time when Trump announced on Sunday that its plans to impose customary duties by 50% on the European Union will be postponed until July 9 to allow time to negotiate a deal before the two parties. The US president on Friday threatened to impose higher fees than expected on the block, and also warned Apple that it would be to 25% fees if the iPhone phones were not made in the United States. Trump’s policy supports prices The trade war launched by the new US administration has helped rise gold prices in more than a quarter, while prices are currently trading about $ 150 from the highest level ever, registered last month. Although the most entertaining position in the trade level may weaken the demand for gold as a safe haven, the metal’s attractiveness was strengthened as a hedging tool amid the increase in the financial situation of the US government, after the “Moody’s” classification agency reduced the highest credit rating of the United States this month. Investors are concerned that the tax law, which is the most important Trump print, which was approved by the House of Representatives last week and is now on their way to the Senate, could lead to additional inflation. Traders will also analyze a set of economic indicators to be issued this week, such as perennial and homes sales, and the morale indicators of the consumer. And the US markets will be closed on Monday due to the “commemoration” holiday. The immediate gold price fell 0.3% to $ 3,346.82 per gram at 7:22 pm in Singapore, while the index “Bloomberg for the Instant Dollars” remained stable. There was no change in silver and albalium prices. On the other hand, Platinum continued its profits after reaching the highest level in two years on Friday. The metal advanced by 11% last week, which is the biggest weekly profits in more than four years, with fear of the deficit and return of demand for jewelry in China, which contributed to the tightening of the market.