Gold prices rose more than 1 % on Thursday thanks to purchases of opportunity, one day after the precious metal reached its minimum in a week amid optimism on the commercial agreement between the United States and China.
The gold in cash rose 1.5 % to 3335.39 dollars an ounce, at 03:12 GMT. Gold futures in the US won 1.5 % up to 3344 dollars.
The precious metal, which does not generate yield and is traditionally considered coverage against world instability, reached a historical maximum of $ 3500.05 on Tuesday, but fell below the level of $ 3300 on Wednesday.
«The volatility we are seeing this week is driven by technical factors and the risk of headlines. But the foundations are solid, so it is built in the falls is, in fact, a function of the investors acting based on the general panorama, ”said Kyle Rodda, an analyst at Financial Markets of Capital.com.
The US Treasury Secretary. UU., Scott Besent, declared on Wednesday that excessively high tariffs between the US and China are unsustainable and must be reduced before they can continue trade negotiations, but said that President Donald Trump will not unilaterally cut tariffs on Chinese imports.
Meanwhile, Trump plans to exempt car manufacturers from some tariffs after the intense pressure exerted by the sector executives in recent weeks, according to a report.
“We maintain an upward trend until the Trump administration really retires from its commercial policy,” said Rodda.
The International Monetary Fund said Wednesday that tariffs will slow down growth and increase debt worldwide.
The economic growth of the United States will exceed the revision of the IMF of 1.8 %, compared to 2.7 % in January, if the Trump administration policies are applied, Besent said.
The dollar index fell 0.3 % compared to its counterparts, which reduced the price of gold for foreign buyers.
The money in cash fell 0.6 %, up to $ 33.33, the ounce, the platinum fell 0.4 %, to $ 968.60, and the paladium lost 0.8 %, up to $ 936.63. (Information from Anmol Choubey and Anushree Mukherjee in Bangalore; Rashmi Aich and Eileen Soreng) edition)
