The Gold retreated on Friday after the US president, Donald Trump, announced a commercial agreement with the United Kingdom, which weakened the attractiveness of the ingot as a safe refuge, while the attention moved towards the conversations between the USA and China planned for this weekend.
The gold in cash fell 0.8% to $ 3,277.67 the ounce, at 0217 GMT. Gold futures in the US lost 0.7% and were $ 3,282.80.
Trump and British prime minister Keir Starmer announced a “historical agreement.” A 10% tariff is maintained on the products imported from the United Kingdom, while Great Britain agreed to reduce its 5.1% to 1.8% tariffs and provide greater access to US products.
“I think the progress in commercial negotiations and the US Agreement.
“The high -level conversations between the US and China during the weekend are also moving the flows of gold.”
-Trump declared Thursday that he hopes that this weekend there will be substantive negotiations between the United States and China on trade and predicted that the Punitive Tariffs of the United States. Uu. About Beijing, 145%, they will probably be reduced.
Gold, traditionally considered a shelter against economic and political uncertainties, thrives in an environment of low interest rates.
Several officials of the United States Federal Reserve plan to speak later in the day to offer more perspectives on the economy and the trajectory of the agency’s monetary policy. This occurs after the Fed maintained interest rates without changes on Wednesday and warned about the growing risks of inflation and unemployment.
Meanwhile, the entry of funds in physical gold ETFs in April was the largest since March 2022, led by the funds quoted in China, due to the country’s trade war with the US, according to data published on Thursday by the World Gold Council.
The money in cash fell 0.7% to $ 32.27 the ounce, the platinum rose 0.2% to $ 977.85 and the paladium fell 0.4% to $ 971.86.
