The trade war brings gold prices to a new standard level

Gold prices have increased to approach their highest levels, with the increasing demand for safe assets amid the increase in the US trade war, at a time when the attention turns to expected data that can reveal early indications of the damage to the global economy. The immediate gold price rose about $ 3.354 per ounce to be close to the highlight it reached last week, with the Bloomberg index for the dollar by 0.3%. The International Monetary Fund is expected to issue new expectations on Tuesday, which includes a reduction in global growth rate, while the indicators of purchasing managers who are published the next day will give a comprehensive view of economic activity as US President Donald Trump has increased the rate of customs duties. Trade war disorders support gold and gold have reached consecutive record levels this year, in light of the disorders caused by the trade war in global markets, which reduced the appetite of investors to risky assets, and led them to use safe ports. Gold -backed indicators have also recorded a growth in the size of the hooves over the past 12 weeks, which has been the longest height chain since 2022, while central banks are still buying gold, supporting the strong global demand. By 08:07 in Singapore, gold was traded 0.8% at $ 3,353,47 per ounce. Silver and platinum did not change significantly, while palladium withdrew.