Gold prices are at the highest level amid the fear of the expected Trump fees

Gold prices have risen to a record level, with investors hurled to Safe Haven after US President Donald Trump repeated his threats to impose customs duties on Mexico and Canada. Gold rose about 0.2% to $ 2799.65 per gram after prices rose 1.3% on Thursday, which overcomed its highest level ever in October. The increase came after Trump would impose a 25% fee on the first of February on the import of Canada and Mexico. China also threatened to impose customs duties without specifying the relationship. The fifth weekly profits, the Precious Metal, which is on its way to achieving his fifth weekly profits, benefited from the demand for safe haven, as Trump’s threats have caused the fear of the launch of commercial wars that could lead the economic growth. There is also fear that his promises to reduce taxes and reform immigration could lead to American financial erosion and reinflation. Fed President Jerome Powell said on Wednesday that the central bank in a “wait and anticipation” is regarding the potential impact of the new management policies. The Federal Open Market Committee held interest rates without changing as expected this week, after being reduced in each of the previous three meetings since September, and indicated that the interruption of the progress in the struggle of inflation justifies the patient approach. Traders will focus on the preferred inflation of the Federal Reserve, the personal consumption cost index, which will be released later Friday. It is expected to show a slight acceleration in high prices, according to the middle of the expectations of economists whose view “Bloomberg”. Immediate gold rose 0.1% to $ 2797.82 per gram at 08:22 in Singapore. The “Bloomberg” index added 0.1%to the immediate dollar. The prices of silver, palsmium and platinum were stable.