Gold is declining by the dollar and the European Trump Agreement
Gold prices continued to decline today during Tuesday’s trading, to decrease below the level of 3300 dollars, in light of the improvement of investors ’appetite towards the risks and the strength of the US dollar. Trade relations between the United States and the European Union improves, after US President Donald Trump announced his approval to extend the deadline for customs tariffs of 50% until July 9.
the US dollar’s rise is pressing gold
The dollar benefited from additional support with the end of the Asian trading session, after the Japanese Finance Ministry announced its intention to amend the bond issuing plans, which led to a sharp decrease in Japanese bond returns, Japanese yen fell against the dollar. With the rise of the dollar, gold prices become relatively more relatively more expensive for buyers than other currencies, which imposes negative pressure on the yellow metal. Gold -backed (ETFS) five consecutive weeks of flows emerging since it reached its highest level in more than a year in mid -April. Harmony Gold Mining, South Africa, announces its acquisition of Mac Copper Ltd. Australian in a deal estimated at $ 1.03 billion, to enhance its presence in the Australian gold and copper market.
The markets are still in a situation "Agency and waiting" Amid the escalation of the American budget deficit, the continuation of commercial negotiations, the deterioration of geopolitical conditions in the Middle East and Ukraine. New, at least in the short term.
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