Gold still takes off with improving the appetite for risk

Gold has decreased after two weeks in a row of losses, with the slowdown in demand due to the prevailing ‘risk demand for risk’, at a time when US administration is trying to conclude commercial agreements with several countries before a deadline that will be resolved on July 9. The precious metal decreased by 0.8% in early Asian trade, before it reduced some of its losses, while investors made the progress at the level of trading level. ‘Bloomberg’ reported on Friday that the European Union and the United States believe that a kind of trade agreement can be reached on time, while talks with India, Japan and many other countries continue. Bloomberg also said the United States is nearby to reach agreements with Mexico and Vietnam. However, universal agreements, the only two previous agreements for President Donald Trump, with China and the United Kingdom, may be an indication that the new agreements will not be comprehensive enough to resolve fundamental issues, and that they can leave many details to negotiate later. Gold has been up 25% since the beginning of the year, and traded at a level of about $ 230 from the highest record level in April, with the support of the demand for safe havens in light of the escalation of geopolitical and commercial tensions. However, Gold is on his way to recording the first monthly decline in 2025, with concerns about the conflict in the Middle East, and the improvement of consumer confidence indicators and inflation expectations in the United States. Prices and anticipation of US tax The immediate gold price fell 0.2% to $ 3,269.16 per gram at 08:24 in Singapore. The immediate “Bloomberg” index of the dollar dropped 0.1%. The prices of silver and Albadium also dropped, while platinum rose. Investors also focus on the Trump Bill to reduce $ 4.5 billion value, and are present to the Senate, at a time when Republicans try to persuade hesitation to support him for permanently, with the possibility to vote until Monday. The volume of the cost of the draft law is a major problem for financially conservative current, amid fear that it will increase the deficit more.