Global gold prices are rising again


11:36 am

Wednesday 15 January 2020

Cairo – Agencies:

The price of gold rose globally on Wednesday, as investors sought safer assets in light of the uncertainty about the impact of the one-stage trade agreement between the United States and China, according to Reuters.

A US official said the duties imposed on Chinese goods will remain in force, according to the agency.

And gold increased in immediate transactions 0.3% to $ 1550.60 an ounce.

And US gold futures gained 0.4% to $ 1551.

The US Treasury Secretary, Stephen Mnuchin, said that the duties imposed on Chinese goods will remain in effect until the completion of the stage two agreement, a day before the world’s two largest economies prepare for a temporary trade agreement.

The maintenance of the fees would reduce the economic benefits of the one-stage agreement by restricting China’s access to one of its largest trading markets, according to the agency.

Gold increased 18% in the past year, mainly due to the 18-month customs dispute, and its impact on the global economy.

Asian stocks fell as Manuchin’s comments negatively affected risk appetite.

Investors are awaiting with interest the details of the one-stage agreement to be announced later today, Wednesday.


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