“The price of gold had a little roller coaster on Thursday, says Thu Lan Nguyen, Chief of Research of FX and CommerzBank Commodities.
Gold ranges $ 100 as commercial tensions are relieved and inflation cools
“After briefly falling to $ 3,120 per ounce Troy, he recovered in more than $ 100 at some times throughout the day. The reason for this sway was the recent relief of tensions in the US commercial conflict, which reduced the demand for safe shelters on the one hand, and the weak US inflation data on the other. The prices of the producers in April also indicated yesterday that the pressure on prices has remained so far contained. ”
“This gave a new impetus to the expectations of trimming of interest rates in the US, which in turn benefited the gold as an interest without interest. However, ultimately, the developments in the commercial conflict will probably exceed the short -term economic data and the expectations of interest rates. After all, the rapid increase in the price of gold of more than 30% in some moments from the beginning of the year Market expectations on interest rate cuts, but probably due to a flight to safe shelters. ”
“If more ‘agreements’ between the US and its commercial partners are announced in the coming weeks, the price of gold will continue to continue its downward trend.”
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.
