The price of gold is near a record level after Trump's comments on China

Gold prices have risen to their highest levels ever as the dollar has dropped after US President Donald Trump referred to a less serious approach to China. The precious metal was traded about $ 2.770 an ounce, which is the highest level since October when Gold achieved the highest previous standard. Trump said in an interview with the US “Fox News” channel that he “prefers not to use” to the imposition of customs duties on China, which led to a decrease in the dollar index by 0.3%, which made gold cheaper for buyers around the world. Gold achieved about 3% profits during the current week, supported by the demand for safe ports amid uncertainty about the future of the global economy under the new US administration. However, Trump’s followers of a more moderate approach to China can negatively affect gold by reducing the demand for it as a safe haven. Also read: Wall Street indicators at the highest level after Trump’s statements about interest and since Trump hold office, traders are carefully awaiting his statements about trade and customs tariffs. Where he previously referred to China, the European Union, Canada and Mexico as possible goals of customs duties, which raised the fear of possible reactions that could increase the attraction of gold as an investment resort. The US president also confirmed earlier by a visual speech to the World Economic Forum in Davos, his intention to impose Europe duties to manufacture to the United States. Trump added that he would claim an immediate reduction in US interest rates, which could be positive for precious metals. However, investors are still careful as the monetary policy is determined by the Federal Reserve, which is planned to announce its decision on interest next week. Last year, Gold recorded a series of standard heights driven to federalism to reduce interest, as well as geopolitical tensions and raising the purchases of the central bank. Investors are currently focusing on Trump’s local agenda, which includes its promises to reduce taxes and reform immigration laws, which can affect US public finance and reinforcement, which can complicate the course of reducing interest by federal. By 11:45 a.m., Singapore Time, immediate gold rose 0.7% to 2.773.29 dollars per ounce, approaching the standard level of $ 2,790,10 an ounce. Silver, balladium and platinum prices also recorded simultaneous heights.