Gold climbs 0.3% with investors’ demand for purchase and anticipation of American data
Gold prices rose today, Wednesday, with investors’ demand for purchase, but the decline in trade tension between America and Europe is a limit of gains, while the market is awaiting the report of the basic personal consumption expenses in America in search of indicators on interest rates.
The price of the yellow metal in instant transactions rose 0.3% to 3309 dollars per ounce at 03:00 GMT, a little more than 1% decrease in the previous session, while futures rose 0.2% to 3308 dollars
The American administration retracted its threat to impose 50% customs duties on the European Union, postponing its implementation to July 9 to provide the opportunity for negotiations between the White House and the 27 countries.
CCC TEM Water Waterer said, “The price of gold has decreased to below 3300 dollars attracted some buyers, yet the broader market still feels optimistic in general now after the intensity of trade tension between Washington and Brussels has diminished, which limits the extent of the price of gold at the present time.”
The market is now awaiting US personal consumption expenses for April, which is scheduled to be issued on Friday to evaluate the proceeding of the potential interest rates, in the meantime the confidence of the American consumer in May, ending a 5 -month decline, supported by a temporary truce in the trade war between Washington and Beijing.
On the level of other precious minerals, the price of silver in instant transactions stabilized $ 33.31 an ounce, platinum rose 0.4% to 1084.07 dollars, and palladium decreased 0.2% to 976.22 dollars.
