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Chris Ratcliffe | Bloomberg | Gets the image
On Monday, gold prices thwarted $ 3,400, resulting in the threat of President Donald Trump regarding the independence of the federal reserve and its tariffs will get rid of investors’ trust in the US economy.
Gold Futures jumped by 2.91%to close at $ 3 425.30 per ounce and investors bought precious metal Dollar reached a three -year minimum. Gold has jumped about 30% since the beginning of the year and about 8% since Trump introduced its wide tariffs on April 2.
President Made pressure On Monday, on the chairman of the Fed Jerome Powell, calling him a “main loser” and demanding that the Central Bank reduce interest rates.
Last Thursday Trump said Powell “Cessation cannot come soon enough‘Once the head of the US Central Bank warned that tariffs for the president are likely to be likely Increasing inflation In the near future. Trump views whether he can Fire PowellHe said on Friday that the White House’s economic advisor Kevin Joset.
This year, the gold was on Slow, as the US and the central banks buy precious metals. Citi sees that gold prices will raise up to $ 3,500 over the next three months, as the demand for investment exceeds the supply from mining.
“We believe that the US tariff and problems with global growth will most likely continue to combine with a strong Central Bank and other institutional demand,” a recent note, led by Kenny, said.
