Gold prices rise

Gold prices have increased today, amid investor fears of customs duties that are likely to be imposed by US President Donald Trump, with an important report on inflation to clarify the course of the monetary policy of the Federal Reserve (US Central Bank).

Gold in instant transactions increased 0.7 percent to $ 2776.79 an ounce by 1020 GMT. US gold futures rose 0.8 percent to $ 2791.70 an ounce.

“Although the imposition of customs duties on gold in the United States is absolutely unlikely because of the origins of reserves, risk managers do not risk exporting the metal to the United States,” said Stone X.

She added that “the most affected by this is the exchange of futures for the material metal, but it undoubtedly contributes to supporting the immediate transactions market.”

Two familiar sources said that the players in the gold market in London are racing to borrow from the central banks, which store gold there, after an increase in gold deliveries to the United States.

Although Trump did not refer to gold in customs duties plans, dealers felt anxious about potential risks, which led to more gold to New York.

Earlier this week, the White House said Trump is planning to impose large customs duties on Mexico and Canada starting on Saturday, while he is also considering imposing some fees on China.

The Federal Reserve kept the interest rate unchanged yesterday, Wednesday, and its president, Jerome Powell, said that the US Central Bank would not hurry into new decisions to reduce interest.

Investors are now awaiting the report of the Personal Consumer Prices for the United States for the month of December, which will be issued tomorrow, Friday.

For other precious minerals, silver increased in instant transactions 0.8 percent to $ 31.05 an ounce.

Platinum increased 1.1 percent to 956.79 dollars, and palladium rose 1.8 percent to record 979.45 dollars an ounce.