The price of gold deepens its decline with the decline in demand for safe ports

Gold prices have dropped their decline with the decline in demand for safe assets, at a time when investors evaluate the prospects for improving trade relations between the United States and the European Union. The price of direct gold near $ 3290.6 was a gram, after it recorded a 0.4% loss on Monday, after Brussels announced the acceleration of talks between Europe and Washington to avoid the outbreak of a commercial war. The two parties relieved their tone after US President Donald Trump criticized the European Union for his ‘failure’ in negotiation. The demand for safe assets such as gold has been influenced, with indicators of the White House progress with negotiations with some commercial partners. According to the “Bloomberg” accounts, golden indirect funds have seen money withdrawals over five consecutive weeks since they peaked in mid -April, at their highest level in more than a year. The anticipation is the gold market, but the markets are still in anticipation as it evaluates a number of risks, including aggravation of the US deficit, the ongoing commercial negotiations and the increase in conflicts in the Middle East and Ukraine. Despite this decline, gold has increased by more than 25% since the beginning of the year. City Group confirmed its short -term forecasts that the price would reach $ 3500 per ounce, increasing the position of gold as a safe haven amid the growing geopolitical and commercial risks. Investors are also preparing for the issuance of the personal consumer spending index in the United States, which is the preferred measure of inflation in the Federal Reserve, Friday, which excludes food and energy prices. * The prices have been updated to reflect the reality of the market