The price of gold has dropped amid anticipation due to the effects of customs duties

The price of gold has dropped slightly before important economic data this week emphasizes the effects of the trade war launched by President Donald Trump. The alloys were traded near $ 3335 per ounce, after receiving 0.7% profits in the previous session. The decline came amid the decline in the yields of US treasury effects, which strengthened the attractive yield of gold. The pressure of the dollar, in return, the JP Morgan Bank expected the markets to see a new wave of twice the dollar, amid the continued sale of US assets due to the commercial policy of the US administration. The dollar fell 0.5% on Monday, which contributed to making the gold base gold more attractive to foreign buyers. Traders still judge the prospects of the global economy amid the increasing ambiguity of the impact of the US trade conflict, which has contributed to a strong turnout wave in recent months. The markets are awaiting the release of US data this week, including reports on the labor market, inflation and economic growth, which may make clearer features of the economic consequences of customs duties. Dallas reserve -data shows a sharp decline in the manufacturing activity in Texas during April, where managers describe the situation as ‘chaos’ and ‘madness’, citing the disorders due to commercial fees. Indicators for the release of the trade conflict between the United States and China are still absent, as Treasury Secretary Scott confirmed in statements to CNBC that Washington postponed the handling of the China file while responsible for Beijing to take the first step to reduce the icing. The Chinese Foreign Ministry once again denied with the United States of America to reduce customs duties. Strong gold support and despite the minor decline, gold has increased by more than 25% since the beginning of the year, supported by factors that include the trade war, expectations for the slowdown in the global economy and the increase in tension between the Trump administration and the US federal reserve. The metal also benefited from strong flow to the golden boxes and the purchase of central banks, as well as a strong demand from the Chinese market despite the decline in real consumption. By 8:06 pm Singapore, the immediate gold price fell 0.3% to $ 3,334.08 per ounce, while the Bloomberg index for immediate dollars rose 0.1%. The prices of silver and Albadium were a slight decline, while platinum established unchanged.