Investors can be happy: the gold price chases one record after the other. In the meantime, the precious metal costs 42 percent more than a year ago. Gold is also due to the last increase in the customs policy of US President Donald Trump.
A record high had already been reached on Thursday – since then the price of the precious metal has risen again. On Friday in the morning, a Troy -essence (about 31.1 grams) cost to $ 3082 (2858 euros) and was therefore more expensive than ever. Gold is considered a safe investment, so the golden course usually increases when investors assess the current situation as unsafe. The precious metal therefore benefits from the many wars, but also from the American customs policy.
Customs can increase the golden price even further
US President Trump announced rates and car parts of 25 percent imported into the US on Wednesday. The European Union (EU) then announced a determined answer if the United States wanted to adhere to its customs plans. The rates can lead to higher inflation. This, in turn, will probably strengthen the demand for gold, it is generally also considered inflation protection.
In addition to the customs policy, geopolitical uncertainty also causes price costs for gold. Despite diplomatic efforts, the secretary of Ukraine is not in sight and the situation in the middle is further tightened. The Golden Prize had recently benefited from the fact that the American Federal Reserve of the American Federal Reserve opened the door for interest rate letings this year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
