Golden withdraws with the rise of the dollar despite the return of trading tension

Gold prices have fallen and US dollars have risen, amid customer evaluation of US consumer spending data and import flow, as well as renewed trade tensions between the United States and China. The data showed that the rate of consumer spending was delayed in April last year, while importing goods recorded a record cut, with companies adapted to high customs duties. On the other hand, the Federal Reserve Bank’s preferred inflation index remained stable, strengthening expectations that the US central bank only had to lower interest rates until later this year, in a falling scenario for gold, which usually benefits from the low interest rate environment. The return of US -China trade tensions at the commercial level, US President Donald Trump said that China had not met the trade agreement that was negotiated earlier this month, referring to the renewed unrest in this file. Trump’s remarks come after Treasury Secretary Scott Besent has suspended commercial talks with Beijing as somewhat. Gold is on its way to wearing a weekly loss by 2%, after it has risen by 5% the previous week. According to the chief analyst at the company “Oanda Asia Pacific”, Clevin Wong, the decline in prices is also due to technical factors, saying that “the movements of the price of gold twice have not penetrated the most important resistance level at the near term at $ 3328.” Despite the recent decline, the precious metal is still 25% since the beginning of the current year, supported by its attractiveness as a safe haven in light of the uncertainty surrounded by Trump’s commercial agenda based on customs duties. The immediate gold price fell 0.9% at 12:30 New York time to $ 3289.25 per gram, and the prices of silver, blibium and platinum dropped.