Gold prices jumped on Monday as renewed commercial concerns and growing geopolitical tensions supported the metal shelter attraction, said ING, Ewa Manthey and Warren Patterson commodities experts.
Gold is backed by the increase in geopolitical tensions
“Prices rose 2.8% to quote over $ 3,380/OZ on Monday, after falling 2% last week. China accuses the US to violate the recent commercial agreement, after President Trump made similar accusations last week. Trump also announced plans to double the tariffs on steel and 50% aluminum. Canada and the EU warns that they warn They will retal. “
“Gold has also been supported by the increase in geopolitical tensions after Ukraine carried out a series of attacks in Russia, and Russia launched one of its greatest attacks with drones and missiles against Kyiv. A second round of peace conversations in Istanbul on Monday failed to reach an agreement to end the war. All this reinforces the attractiveness of a gold refuge.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
