Gold has dropped by more than 1 % to reach a hollow of two weeks Thursday, weakened by signs of appeasement of trade tensions that have reinforced the appetite for the risk and reduces the attraction of the refuge value of the precious metal. At the same time, the vigor of the US dollar has also weighed on the courses.
The cash in cash fell 1.8 % to $ 3,230.24 per ounce around 07:51 GMT, after having touched its lowest level since April 15.
Tower contracts on gold in the United States have sold 2.4 % to $ 3,238.60.
The dollar index increased by 0.5 %, making gold denominated in dollars more expensive for buyers with other currencies.
“The persistent hope that certain trade agreements are signed soon, thus allowing the maintenance of lower customs duties, continues to support the market,” said Giovanni Staunovo, analyst at UBS. He adds that this optimism, combined with a reinforced dollar, exerts additional pressure on gold.
US President Donald Trump said on Wednesday that trade agreements were possible with India, Japan and South Korea. He also indicated that there was a “very good luck” to reach an agreement with China.
The American economy contracted for the first time in three years in the first quarter, weakened by an outbreak of imports while companies were trying to anticipate the establishment of higher customs duties.
However, officials of the Federal Reserve indicated that short -term interest rates would remain unchanged as long as there are no clear signs of inflation approaching the target of the central bank or potential deterioration of the job market.
Investors await the report on non -agricultural employment on Friday to obtain new indications on the orientation of the Fed policy.
“A lower employment report should support calls for new rate decreases by the Fed this year and allow gold to return to $ 3,500 an ounce in the coming months,” said Giovanni Staunovo.
Analysts interviewed within the framework of a quarterly Reuters survey planned, for the first time, an average annual gold price greater than $ 3,000.
The World Gold Council has brought in a 1 % increase in global gold demand over one year, including over -the -counter transactions to 1,206 metric tonnes in the first quarter of 2025, carried by a flambé of 170 % of investments.
Gold, metal without yield considered as coverage against political and financial turbulence, had briefly reached $ 3,500 last week.
Signing money fell from $ 32.11 to $ 32.11, the plate lost 1 % at $ 956.82 and the palladium remained stable at $ 937.53.
