After a significant fall last week, the price of gold yesterday was risen again. In the early afternoon, ounce of gold of 31.1 grams were traded at a price of $ 3320.
However, it is still far from a record value of just over $ 3500, which has been reached at the end of April.
The price of gold fell last week due to the signs of calming disputes, but now, with the incoming decision of the American Federal Reserve (FED) on interest rates, uncertainty around the global trade and the American economy returned to the FIRST plan, the German news agency DPA reported.
Fed is expected to resist political pressure on Wednesday and will not reduce key interest rates. However, the environment for monetary policy is very uncertain due to the unpredictable customs policy of the US President Donald Trump.
On the one hand, Trump told the NBC interview that he was ready to lower customs duties at some point in Chinese goods. Because customs are now so high that the two largest world economies don’t really do business with each other, he said. However, soon after that he said that he did not plan to talk to his Chinese Trade Collage this week, seebiz.
These Trump statements caused uncertainty on the stock exchanges, as well as its plans to introduce import customs to films taken abroad. Investors therefore started looking for more gold today, which is considered a safer investment in such an uncertain environment.
