In the midst of global economic uncertainty, the price of gold has increased as the demand for precious metals is strong.
Spot gold prices were $ 3,508.50 per ounce on Tuesday, continuing to rise nearly one -third this year.
Precious metals were considered a safer asset for investors during the economic uncertainty, and prices rose earlier this year after US President Donald Trump announced a wide range of tariffs on global trade.
Analysts say the price was released by the expectation that the US central bank would reduce the main interest rate and make gold a more attractive prospect.
Adrian Ash, the researcher at Bullionvault, said in the BBC’s Today program that the gold price increase has been trumped over the past few months and said, “It is about his work for the world’s trade.”
“Last year, the US election actually caused a fire,” he said.
Analysts also cite the concerns about the independence of the US central bank as another factor that leads the price of gold.
Trump began a repetitive attack on Jerome Powell, chairman of the Federal Reserve Bank, and recently tried to dismiss Lisa Cook, one of the governors.
“Attempt to undermine the independence of the Federal Reserve Bank,” said Hargreaves Lansdown, “Deren Nathan,” said Deren Nathan.
Monday, the head of Christine Lagarde, the European Central Bank, warned that Trump would be “very serious” in the world economy if he undermined the Fed’s independence.
She said that if the Fed had to respond to Trump’s politics, it would have a “very worried” impact on economic stability in the United States and other worlds.
Ash was sanctified by the slowdown in China and India, one of the largest markets of gold jewelry when the price of gold soared due to the interest of investors.
But this time, rather than going to the market in a high -gold price, jewelry buyers continue to seek demand in China and India to purchase investment gold products such as Bana coins.
