The stability of the price of gold amid continuing the fear of customs duties

The price of gold maintained its stability with the escalation of the fear that trade wars by US President Donald Trump led to a global economic recession, which strengthened the demand for safe havens and stopped the wave of decline in the precious metal over the past few days. Despite the decline in three consecutive sessions, gold has increased by more than 13% since the beginning of the year, supported by investors’ search for safe assets in light of the economic and political turmoil as a result of the increasing customs policy of the US administration. Although gold often benefits from periods of uncertainty, acute disorders in market investors can lead to selling assets to cover their losses elsewhere. Customs laid down on Trump have caused serious fluctuations in global markets, where investors judge their economic consequences. The US president held his plan on Monday despite criticism and warnings on economic recession, and emphasized that he did not intend to withdraw, while at the same time expressing an openness to negotiation with trading partners. The gold price has $ 2989 per hour at 8:30 am Singapore time recorded time, while the prices of silver, albadium and platinum retained their stability. The Bloomberg Instant Bloods index also did not see a significant change.