Gold prices recover after the largest daily decline in five months

The price of gold has risen after the largest daily decline in five months, which came as a result of more reconciliation statements made by US President Donald Trump over the trade and the federal war. The precious metal recorded a 1.5% increase during Asian trade, after dropping 2.7% in the previous session. Trump indicated that he was prepared to reduce the wide customs duties he imposed on Chinese goods. He also said he did not intend to reject the chairman of the Federal Reserve Jerome Powell after raising his immediate reduction in market interest rates and business warnings. Trump’s remarks lit a state of risk in Wall Street, which caused a wide sale of gold on Wednesday. This included futures in Shanghai, which has seen the largest daily decline since 2013, as it fell by 5.8%. Contracts trading volumes also jumped into a record number of more than 1.88 million contracts. Delicious fluctuations with this, the tone of the soft Trump may not support a strong recovery in the shares, as it appears that traders are exhausted from the sudden fluctuations. Anxiety about the future can increase the attractiveness of gold as a safe haven. The price of gold has risen in more than a quarter of this year, and earlier this week for the first time exceeded $ 3500 per gram, as Trump’s customs agenda and geopolitical tension paid investors to search for safe havens. Among the other factors that supported gold prices are strong flow to the revamped indicators and purchases by central banks. Gold rose 1.4% to $ 3,336,41 per ounce until 8:31 p.m. Singapore time. While the Bloomberg index of the immediate dollar remained unchanged. The silver recorded a slight increase, while the prices of platinum and Albadium did not see a significant change.