The price of gold drops amid indications of possible progress in trade conversations

The price of gold fell for the third day in a row, with indications of possible progress in trade talks between the United States and China, which reduced the demand for safe assets. The price of the precious metal fell by 0.6% before dropping near $ $ 3.275. The official China Central Channel said the United States communicated with Beijing through various channels. The news also contributed to the Trump administration approaching the announcement of the first group agreements that will reduce the planned customs duties in some countries, to calm some concerns about the global trade prospects. The shrinkage data did not support the metal on Wednesday; The gold fell more than his record recorded last week, despite the issuance of data showing that the US economy was shrinking for the first time since 2022 as a result of a major boom in imports that preceded the imposition of Douwale. This shrinkage urged traders to increase their bets to reduce interest in the United States, as four cuts this year were priced by a quarter of a percentage of each reduction to avoid the recession. Low interest rates are usually positive for gold because they do not make interest. Gold driven by gold has risen by 25% since the beginning of the year, mainly to investors in secure ports, while Trump’s commercial policy has caused rapid change in market market and the fear of global slowdown. This increase also supported money flow to gold boxes, central bank purchases and indicators on a strong speculative request in China, even with the real consumption dropping in the world’s largest metal buyer. Job report may determine the following trend, while investors see the future. The expected US postal report is expected to shed light on the initial effects of Trump’s commercial policy on the economy. By 08:05 o’clock, Singapore, direct gold was 0.5% to $ 3,273.40 per gram. On the other hand, the Bloomberg index for the Republic of Dollar increased slightly. In terms of silver and platinum, they remain without change, while palladium has decreased slightly.