Gold prices rose amid a weaker dollar and increased demand for safe-haven assets amid fears of an escalating global trade war. About this informs Reuters.
Spot gold was up 0.1% at $2,914.00 an ounce. US gold futures rose 0.2% to $2,920.10 an ounce. Investors are also awaiting further signals from the US Federal Reserve on future interest rate decisions.
At the same time, the spot price of silver decreased by 0.2% to $32.45 per ounce. Platinum prices were flat at $963.37, while palladium was also unchanged at $948.64.
It will be recalled that on March 9, US President Donald Trump refrained from predicting a possible recession in the country, despite the concerns of the stock markets, caused by his customs policy towards Mexico, Canada and China in the context of the fight against the spread of fentanyl.
The announcement of changes in the tariff policy caused concern on Wall Street. Investors believe that the Trump administration’s inconsistent actions to eliminate tariffs for trading partners are not making things easier, but rather creating confusion.
