World gold price today 09/06/1403
According to Reuters, gold prices were almost flat in Tuesday’s trading today after a 3 percent decline the previous day. Interest in gold as a safe-haven has increased following Trump’s promise to impose tariffs on all imports from Canada, Mexico and China.
The price of gold per ounce increased by 0.18% to $2,629 and 62 cents today. The price of gold futures on the Comex market in New York has reached $2,655 and 20 cents with an increase of 0.48%.
Trump announced that he will impose heavy tariffs on imports from Canada, Mexico and China. This action increases the risk of trade wars.
Gold is always considered a safe investment in times of economic and geopolitical instability, including trade wars and other conflicts.
Meanwhile, Neil Kashkari, the head of the Minneapolis Federal Reserve said he is ready to lower interest rates further next month. Markets currently have a 55.9% chance that the US Federal Reserve will cut interest rates by 25 basis points at its December meeting.
Traders are currently focused on consumer confidence data and details of the November Federal Reserve meeting due out today. They are also waiting for the first survey of GDP and producer price index statistics this week.
In the geopolitical field, the President of the United States and France are ready to announce a ceasefire in Lebanon between Hezbollah and the Zionist regime.
Among other precious metals, silver rose 0.67% to $30.87 today, and platinum traded up 0.21% to $942.26.
