Gold starts from the front to start the week

(Boursier.com) – The week starts up for gold, while the trade war file does not move much, a few hours from the start of the meeting of the American Federal Reserve – the Fed will return its verdict on its rates on Wednesday. The course of yellow metal increased by 2.5% on Monday evening and finds the $ 3.320 on the ounce.

Donald Trump had suggested in recent days that his administration could conclude trade agreements with certain countries this week, but the announcements are long overdue, and the American president has not yet communicated on any imminent agreement with China.

Tensions with Jerome Powell

Another factor of rise for precious metal: the Fed should not affect its guiding rates after its meeting on Wednesday, despite the increased pressures exerted by Donald Trump on Jerome Powell. The central banker judges that the surprisingly solid employment figures last week do not justify any drop in rates.

Gold has jumped by 26% this year, reaching a record at more than 3,500 dollars on the OCE in April, before losing ground in recent weeks. This increase is due to its status of refuge value while the markets are shaken by the commercial and geopolitical announcements of the American president. Gold also benefits from speculative demand in China and purchases from the central banks.