The trade conflict between the United States and China drives investors in gold. The price of the precious metal is now more than $ 3,300 (around 2900 euros) per determination (around 31.1 grams) and is therefore more high than ever.
“In addition to the Swiss Frank, gold is one of the most important profiters of flights in safe facilities,” said analyst Ricardo Evangelista of the British Handelshaus Activtrades. Trust in American government bonds, on the other hand, was shocked. Gold is currently being asked as a necessary coverage, Stephen Innes also said of the Swiss Wealth Manager Spi Asset Management.
The recent fall in the US dollar also caused a stronger demand for gold. Gold is usually traded in dollars on the world market.
The gold price has developed since the previous year.
Rivals will probably not agree soon
Before the rise in prices, US President Donald Trump had added to the customs flict. “The ball lies with China. China has to conclude an agreement with us. We don’t have to deal with it,” he said. The US government has also tightened the restrictions on deliveries from AI chips to China.
The fact that the two rivals of the global economy would quickly agree will no longer be hired. Since Trump took office and the new customs policy of the US government, gold has now won around 20 percent in value.
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.
