Stability of “yellow metal” prices

There was no significant change in gold prices today, as it commented between demand for safe haven assets after US President Donald Trump’s new statements regarding customs duties on commercial partners and the high returns of US Treasury bonds, which limited any bullish momentum.

By 06:12 GMT, gold in instant transactions decreased 0.1 percent to $ 3331.85 an ounce.

The US gold futures settled at $ 3341.80.

On Monday, Trump began notifying the US trading partners that the implementation of high customs duties on August 1, declaring a new stage in the trade war he launched earlier this year, with customs duties imposed on goods from Japan and South Korea by 25 percent.

“It seems that traders are relatively dissatisfied with Trump’s talk about customs duties, and as the demand for safe haven has a large extent at this stage, gold is still awaiting its chance, pending a possible rise,” said Tim Water, Chief Market Her Market at K.N Trading.

Waterter added that the high returns of bonds and the elasticity of Asian markets in the face of the developments of customs duties limits the possibility of gold in instant transactions.

The standard US treasury bonds returned for 10 years near its highest level in two weeks, and the revenue increases the cost of alternative opportunity to possess the background that does not generate returns.

Trump’s customs duties have laid down inflation fears, which increased the complexity of the Federal Reserve’s path towards reducing interest rates.

The minutes of the June Reserve Council, which are scheduled to be issued tomorrow, Wednesday, will be presented on Wednesday, more indications of the policies of the US Central Bank.

As for other precious metals, silver settled in instant transactions at $ 36.75 an ounce, platinum fell 0.1 percent to $ 1368.93 an ounce, and palladium rose 0.2 percent to 1112.88 dollars.