Gold receives support from the movements of the Federal and Trump .. This is its price today

Gold continued to attract its pioneers from buyers at its price, which reached about $ 2915 amid a state of global uncertainty and the threat of global trade war by US President Donald Trump, things that provide some support to the precious metal, according to the FX Street platform.

Gold and Trump orders

Last week, US President Donald Trump issued an executive order to exempt goods from Canada and Mexico under the North American Trade Agreement known as “USMCA” two days after its imposition.
However, US Secretary of Trade Howard Lottennik late Sunday said that customs duties at 25% on steel and aluminum imports, which are scheduled to enter into force on Wednesday, are unlikely to be postponed.
Also read: Do gold prices stabilize in the remainder of March? .. Here are expectations

Factors that support the height of gold

The uncertainty surrounding Trump’s customs policies is likely to enhance investor flows on a safe haven, which benefits the price of gold in the near term.
Moreover, the labor market in the United States slowed last month, as a report indicated that the Federal Reserve remains on its path as it is until now to reduce interest rates several times this year, and this in turn weighs the dollar and raises the price of commodities denominated in dollars.

American economic data

Data issued by the American Labor Statistics Office revealed on Friday that non -agricultural jobs in the United States increased by 151,000 jobs in February, followed by an increase of 125,000 jobs (modified from 143,000 jobs) in January.
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This number came weaker than the 160,000 market expectations.
Meanwhile, the unemployment rate increased to 4.1% from 4.0% in January, while the annual inflation rate increased, and it is measured by changing the average wage per hour to 4.0% from 3.9% (revised from 4.1%).

Gold and dollar

Gold prices, backed by the decline in the dollar, increased demand for safe havens, amid the escalation of fears of the repercussions of the World Trade War.

Instal gold price

Gold recorded in instant transactions an increase of 0.1% to 2914.42 dollars an ounce, while US gold futures increased by 0.3% to $ 2921.90.
On other minerals, silver in instant transactions increased by 0.1% to $ 32.56 an ounce, while platinum settled at 962.90 dollars, while palladium decreased by 0.2% to 946.30 dollars.

Hopes for the rise in gold prices

L -X Street analysts say that, according to market evaluations and their different indicators, the upcoming hopes for gold remain high even if it retracts from its peak that it had previously reached at the limits of the $ 2946, and analysts still see the possibility of exceeding the metal for the current prices to the number of 3000 dollars an ounce and even if the gold entered into correction operations without a huge declining effect that will keep the metal expectations and rise during the year.