Gold prices fell globally after Trump announced the extension of the customs duties

I witnessed prices gold Noticeably declining with the beginning of the week trading, after the US President’s announcement Donald Trump On progress in several commercial agreements, and its confirmation of extending the deadline for the application of customs duties to a number of countries. This announcement has reduced commercial concerns, which reduced the demand for yellow metal, which is a safe haven in times of economic tensions.

A noticeable decrease in the price of instant gold and futures

By 02:32 dawn GMT, gold decreased in Instant transactions by 0.6% To reach $ 3314.21 an ounceWhile it retreated American futures for gold in the same percentage To register $ 3322 per ounceAccording to what was reported by Reuters.

This decline came a direct reflection of the political and economic developments in the United States, especially after the recent statements of the American president.

Trump: Close commercial agreements and a new postponement of fees

Trump announced at a press conference on Sunday that his country has approached Putting the final touches on a number of commercial agreementsAdding that Washington will notify the countries concerned with imposing new fees rates by solutions July 9And that its application actually begins in August 1.

In April, the United States announced Imposing customs duties by a minimum of 50%, up to 50% On some countries, but later decided The postponement of the implementation of most fees, with the exception of 10% From it to the new date, which gave those countries An additional three -week deadline To re -negotiate or arrange its commercial conditions.

Market reaction: Gold retreats and pressures on the federal

Analysts considered that The American postponement is short -term He played a direct role in the decline in the price of gold, as he said Calvin WongSugar market analyst at “Uanda”:

“This temporary extension led to a daily weakness in Gold pricesBut it does not necessarily reflect a long -term shift in the direction of the market. ”

And caused Inflationes associated with customs duties In the decline in the expectations of reducing interest rates by the Federal Reserve (the US Central Bank), the future contract data shows that markets You no longer expect to reduce the interest this monthIt is likely to implement Only two reductions by a quarter of a percentage point before the end of the year.

The performance of other precious metals

The decline was not limited to gold only, but also included most of the precious metals, as the prices were recorded in the immediate market:

Silver: It fell 0.8% to reach $ 36.81 per ounce.
Platinum: Fall 0.8% to register 1380.55 dollars per ounce.
Phralatium: Decrease by 1% to reach $ 1123.31 an ounce.

A future look: Will gold restore its luster?

Despite the current decline, analysts believe that Gold is still in a strong location In the medium and long term, especially in light of the continuation Geopolitical tensionsAndThe non -clarity of the American interest pathIn addition to fears related to the Chinese economy and energy prices.

But at the present time, any references to Global commercial stability Or a calm between Washington and its commercial partners, that would The demand for gold is temporarily weakened It pushes investors to go towards returns assets such as stocks and bonds.