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Last week bullion hit a record of $ 2,942.70
Central Bank shopping should continue to support Gold- Commerzbank
The minute of the January meeting of Fed to be held on Wednesday
February 18 – Gold prices rose more than 1% on Tuesday as concerns over economic growth due to uncertainty around US President Donald Trump’s tariff schemes, leading to safe -hawan flowing into the bullion.
Spot Gold rose to $ 1.2% $ 2,932.79 as ET at 2:11 pm after killing a record high of $ 2,942.70 last week.
US Gold futures were 1.7% higher at $ 2,949.
Jim Vacoff, a senior market analyst at Kitco Metals, said, “We are looking after safe demand due to the disrupted nature of Trump administration and we have also found a fast chart posture.”
Since assuming office last month, Trump has rapidly rebuilt the global trade battleground with a series of tariffs, while plans are already in the pace to broaden the mutual tariffs, which are already in the pace. The nation has squarely which taxes American products.
“Buying a central bank should also continue to provide support,” Commerzbank analysts said in a note.
The market attention has been transferred to the Central Bank’s interest rate trajectory on Wednesday, the US Federal Reserve meeting on Wednesday in minutes of the January meeting of the January meeting.
“If the economy starts to become a business tariff and such a spit, we can see some low interest rates,” said Vacoff.
Safe-hevan bullion benefits from geopolitical and economic uncertainties and thrives in a low-onion rate atmosphere as it does not pay any interest.
“While the widespread trend remains intact, the risk of a deep pullback cannot be ignored at these high levels. To reach new heights for gold, it can increase geopolitical risks, especially Ukraine’s Ukraine About, “on City Index and Forex.com.
$ 32.84 per ounce was 0.2% above. Platinum rose 0.9% to $ 983.75 and the palladium climbed 2.5% to $ 986.50.
This article was generated from an automated news agency feed without amending the text.
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