The price of gold records its highest levels ever, with Trump setting fire to the spark of the trade war

The price of gold rose and its highest levels recorded after US President Donald Trump imposed 10% of customs on China, strengthening the demand for precious metal as a safe haven. The price of gold rose 1% to 2844.35 dollars per gram, which exceeded its previous summit on Monday, as the dollar fell after China announced revenge measures. It should be noted that the decline in the value of the dollar makes the precious metal more attractive to investors than other currencies. Beijing soon answered by imposing a set of fees on US products, in addition to announcing the opening of an investigation against “Google” in allegations related to violations of anti -monopoly laws. In a step, it seems to be aimed at avoiding the increase in tension between the largest economies in the world. This trade war with China comes after Trump threatened to impose 25% fees on Canada and Mexico before postponing for a month. “Trump’s irregular decisions about customs duties feed more uncertainty, which benefits gold as a safe haven.” Market anxiety increases the attraction of gold, a state of anxiety in the markets prevails over what will happen in the coming period, which increases the attractiveness of gold as a value of value in a difficult prediction environment. It will be important to know if the dollar will continue to rise, especially as the strong US currency makes alloys more expensive for many buyers. Also read: The price of gold is still flying after Trump has promised to impose fees on Mexico and Canada. Some of the most important questions raised are the extent of the ability of the US and Chinese economies to withstand the trade war, in addition to the effects of monetary policy if customs duties are on fire. Last month, the Federal Reserve stopped lowering interest rates and adopting the ‘wait and anticipation’ approach to the policy of the new administration. The fear of the trade war, the immediate price of gold rose 0.8% to $ 2837.54 per gram at 10:39 in New York. The Bloomberg Instant Dollar Index fell 0.7% after rising 1.1% during the previous six sessions. Silver and platinum prices rose, while the price of palladium fell. The fears of the trade war raised unrest in the precious metal markets, even before Trump has imposed customs on China, as gold and silver prices in the United States have had an increase in international standards in recent weeks, asking traders and traders to pump large amounts of minerals in the US market. This unrest also led to a sharp rise in the yield on lending to gold and silver, which is the yield that stored alloys in the London cabinets when the metal is borrowed on a short -term basis.