The prices of “yellow metal” decrease

Gold prices decreased today, after US President Donald Trump indicated progress in a number of commercial agreements and announced the extension of the deadline for customs duties for many countries, which reduced the demand for the precious metal, which is considered a safe haven.

By 02:32 GMT, gold in immediate transactions decreased 0.6 percent to $ 3314.21 an ounce.

US gold futures fell 0.6 percent to $ 3322.

On Sunday, Trump said that the United States is approaching the final touches on a number of commercial agreements in the coming days and will notify other countries of the highest customs duties by July 9, with the higher fees entering into force on the first of August.

In April, Trump announced the imposition of 10 percent basic customs duties on most countries, with additional fees of up to 50 percent, and later postponed the application of all these definitions except for 10 percent of them until the ninth of July.

The new date is given a three -week deadline for most countries affected by the decision.

“This short -term postponement (by the United States) causes this daily weakness in the price of gold at the present time,” said Corphen Wong, Sugar Market Zol in Uanda.

Fears of customs domain inflation led to expectations of slower discounts in interest rates from the Federal Reserve (US Central Bank).

Futures for interest rates show that traders no longer expect to reduce interest rates by the US Central this month, and they expect a total of only two reductions by a quarter of a percentage point by the end of the year. For other precious metals, silver in instant transactions decreased 0.8 percent to $ 36.81 an ounce, platinum fell 0.8 percent to $ 1380.55 an ounce, and palladium fell one percent to $ 1123.31 an ounce.