Gold declines 1% with the decline of fears of the trade war and anticipation of American data

Gold prices decreased today, Tuesday, 1% to $ 330.83 an ounce by 03:00 GMT, with the gravity of the yellow metal as a safe haven due to the decline in trade tensions between America and its trading partners, while investors are awaiting American economic data to assess the path of the US Central Bank policy.

IG Yip Rong said.

https://www.youtube.com/watch?v=cxtnpi7xo

US Treasury Secretary Scott Besent said yesterday, Monday, that a large number of major commercial partners of his country have made very good proposals to avoid customs duties, and India is likely to be one of the first countries signing of such an agreement, adding that the latest Chinese moves to exempt some American goods from counter -tariffs, showed that Beijing wanted to calm commercial tension with Washington that refrained from escalation through Block these goods.

The administration of US President Donald Trump will move to reduce the impact of customs duties on cars later today, by reducing some of the fees imposed on spare parts from the outside of locally manufactured cars.

However, the risks of the global economy slipping into a stagnation this year are still high, according to experts in a Reuters poll, many of whom said that the customs duties imposed by America had harmed the morale in the business sector.

Gold, which is a traditional refuge in political and financial instability, rose to its highest level ever at $ 3500.05 an ounce last week and achieved gains exceeding 25% since the beginning of the year.

Investors are awaiting a series of economic data this week, with the issuance of the job report in America later on Tuesday, and the report of personal consumption expenses tomorrow, Wednesday, while the non -agricultural job report is issued on Friday, and this data helps measuring the impact of the latest customs duties imposed by Trump on the Federal Policy expectations.

For other precious minerals, silver with instant transactions increased 0.1% to $ 33.21 an ounce, and platinum settled at $ 986, and palladium lost 0.1%, recording 948.06 dollars.