Gold prices increased Tuesday in a context of persistent uncertainty about the pricing projects of US President Donald Trump and their impact on the world economy.
The cash in cash was up 0.5 % to $ 3,226.24 per ounce, at 06 h 51 GMT, not far from the record of $ 3,245.42 reached on Monday.
Tower contracts on gold in the United States increased by 0.5 % to $ 3,242.50.
“Gold continues to firm up today … Due to the continuous demand of investors for defensive assets in order to mitigate the volatility of portfolios, while the United States seems to prepare the ground for new customs of customs rights,” said Yeap Jun Rong, market strategist at IG.
The United States continues its investigations on imports of pharmaceuticals and semiconductors in the context of an attempt to impose customs duties in these two sectors on the grounds that the significant dependence on foreign production of drugs and chips constitutes a threat to national security, the documents deposited in the federal register revealed on Monday.
Trump said on Sunday that he would announce the rate of customs duties on imported semiconductors in next week, which has put market players on nerves.
With the price of gold which recently reached a new summit, the upward trend remains intact and as long as pricing uncertainties continue, the ingot could remain supported, said Yeap.
At the same time, the president of the Bank of the Atlanta Federal Reserve, Raphael Bostic, said that uncertainty surrounding customs duties and other policies had brought the economy in “big break”, and suggested that the Fed should remain on hold until the situation is clearer.
Gold, which does not bring in interest, serves as coverage against uncertainty and global inflation, and also tends to prosper in an environment of low interest rates.
Investments in Chinese index funds backed by physical gold have exceeded this month all the first quarter and have exceeded the entries recorded by the funds listed in the United States, according to World Gold Council data.
Signing money dropped by 0.2 % to $ 32.29 per ounce, the plateaped from 0.2 % to $ 949.21 and the palladium dropped from 1.4 % to $ 943.
