Gold prices drop by more than 1%

Gold prices have decreased by more than 1%, today, as the decline in trade tensions between the United States and China have strengthened the appetite of investors for risk and the weakest demand for safe assets such as the precious metal, while the dollar increased the pressure.

By 02:20 GMT, gold in instant transactions decreased by 1.4 percent to $ 3272.89 an ounce.

Gold recorded a high record of $ 3500.05 on April 22.

US gold futures fell 0.4 percent to $ 3283.70 an ounce.

The US dollar rose 0.3 percent against a basket of currencies, making gold the highest cost for other currencies.

“It may be fair to say that financial markets and risky assets in particular feel a slight improvement in the status of customs duties now compared to the first week in April.

“Last week, the White House comments were reinforced by optimism about the possibility of reaching a trade agreement between the United States and China, which led to a decline in demand for safe assets such as gold,” he added.

US President Donald Trump said talks on customs duties with China.

The Trump administration has indicated this week to its openness to calm the trade war between the two largest economies in the world, which sparked fears of recession.

For other precious metals, silver in instant transactions decreased 1.2 percent to $ 32.70 an ounce, and platinum fell 0.6 percent to 965.70 dollars, while palladium fell one percent to $ 939 an ounce.