The record yacht continued on the gold market on Monday. In the morning the golden prize at the fair in London rose to $ 3245 per Troy Ounce (about 31.1 grams).
The escape in the safe investment gate still ensures a high demand for gold due to aggressive American customs policy. President Donald Trump’s customs policy increasingly causes confusion in the financial markets.
Weak dollar
In addition to the American customs policy, the Golden Prize also benefited from the recent fall in the US dollar. The weaker American currency makes the noble metal in dollars cheaper on the world market and therefore increases demand.
Interest decision of the ECB is being processed
In the further course of the trade week, monetary policy will also be the focus of interest on the gold market. The interest decision of the European Central Bank (ECB) will be in the program on Thursday. It is calculated firmly with a further interest in the central bank. Lower interest rates generally strengthen the demand for gold that does not cause market interest rate for investors.
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.
