Gold finally shot $ 3,000, a new trump tariff threat for 'hint'?

thecekodok


The metal market began to retreat at the beginning of the opening of the week after winning the highest $ 3,000 record as Donald Trump's trade policy was still in the phase of uncertainty.


The collapse of the US dollar led gold to hit $ 3,004 and retreated $ 2,982 at the end of Friday's trading.


At 8.50am, gold prices were $ 2,989.51 at 0.17% since it opened at the beginning of Monday's trading at the Asian session.



Geopolitical conflicts also affect gold demand. The Ukraine-Russian ceasefire is in the discussion, with the latter being reluctant to comply with a 30-day ceasefire.


Meanwhile, the World Gold Council (WGC) reported that People's Bank of China (PBOC) increased its bullion reserve for the fourth consecutive month in February.


Concerns of recession surrounding the United States (US) economy have led the USD to drop demand for metal.


This increases the likelihood of the Federal Reserve (Fed) will relax the base of 66 base points by 2025, down from 74 basic points a day.


Currently, investors will focus on the Fed's decision this week on the latest interest rates setting. Jerome Powell states that inflation expectations are driven by tariffs.


In addition, US economic data will feature retail sales numbers, housing data, Fed monetary policy decisions and economic projections.

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