Gold soars again until unexplored heights on Wednesday in its quality of refuge, taking advantage of the fall of the dollar with the tone of the White House tone on customs duties.
“After a brief period of greater stability on the markets” following a partial and temporary break of American customs from customs and the exemption from tech, new announcements testify “to the persistent risks of climbing, arousing fears that the trade war can further worsen”, underlined the analysts of Deutsche Bank.
US President Donald Trump opened an investigation into the “national security effects” of critical minerals as well as “derivative products”, such as smartphones or electric vehicles on Tuesday, such as smartphones or electric vehicles, opening the way to surcharge.
New customs duties could target semiconductors and pharmaceuticals “within one or two months,” according to the US Secretary for Commerce Howard Lux. Export restrictions on fleas particularly penalize the American giant in the Nvidia sector.
China has suspended any reception of aircraft manufactured by the American manufacturer Boeing. The Hong Kong Post announced on Wednesday that it suspended parcels for the United States.
Enough to increase gold to a new historic peak on Wednesday, at 3.317.75 dollars l’Once.
Around 09:20 GMT (11:20 am in Paris), the ounce of yellow metal took off 2.36%, at 3.307.08 dollars.
Conversely, “the dollar remains under pressure from the trade war which is starting to have concrete consequences for American companies and feeds fears of recession in the United States,” noted Ipek Ozkardeskaya, analyst at Swissquote Bank.
On Wednesday, around 9:20 am GMT, the greenback fell 0.77% against the European single currency, at 1.1370 dollars for one euro, and lost 0.38% against the British book, at 1.3,283 dollars for a book.
Gold soars again until unexplored peaks on Wednesday, in its capacity of refuge, taking advantage of the fall of the dollar with the hardening of the White House tone on customs duties.
“After a brief period of greater stability on the markets”, following a partial and temporary break from American customs surcharge and tech exemption, new announcements testify “persistent climbing risks, arousing fears that the trade war can still worsen”, underlined the analysts of Deutsche Bank.
US President Donald Trump opened an investigation on the “national security effects” on the importation of critical ores as well as “derivative products”, such as smartphones or electric vehicles on Tuesday, such as smartphones or electric vehicles, paving the way for surcharge.
New customs duties could target semiconductors and pharmaceuticals “within one or two months”, according to the American secretary for trade, Howard Lungick. Export restrictions on fleas particularly penalize the American giant in the sector, NVIDIA.
China has suspended any reception of aircraft manufactured by the American manufacturer Boeing. The Hong Kong Post, for its part, announced on Wednesday that it suspended parcels to the United States.
Enough to increase gold to a new historic peak on Wednesday at 3,317.75 dollars perce.
Around 09:20 GMT (11:20 am in Paris), the ounce of yellow metal took off 2.36 %, at 3,307.08 dollars.
Conversely, “the dollar remains under pressure from the trade war, which is starting to have concrete consequences for American companies and feeds fears of recession in the United States,” noted Ipek Ozkardeskaya, analyst at Swissquote Bank.
On Wednesday, around 9:20 a.m. GMT, the greenback fell 0.77 % against the single European currency, to 1.1370 dollars for one euro, and lost 0.38 % against the British book, at 1.3283 dollars for a book.
The American motto also retreated against the Swiss franc and the Japanese yen, considered as refuge values.
This role is, more unusually, also fulfilled by the Euro, which offers a gateway to “German state obligations as an alternative to US Treasury bills for investors looking for security”, noted Volkmar Baur, analyst of Commerzbank.
In the United Kingdom, inflation slowed down again in March, according to official figures published on Wednesday, 2.6 % over a year, compared to 2.8 % in February. This level in March is lower than the anticipations of the analysts interviewed by Bloomberg, which tabed on 2.7 %.
“These data support the expectations of a drop in rates” of the Banque d’Engangre “0.25 percentage points in May as part of a progressive approach” from the British central bank, said Patrick Munnelly, Tickmill analyst.
AFP
