Retreat Gold prices Today, Tuesday, after I approached the highest level in 4 weeks, as a slight rise in the dollar pressed the yellow metal, but the state of blurring regarding the trade agreement between the United States andChina The investors have kept cautious and united from the decrease in gold.
Gold fell in instant transactions 0.74% to 3356.81 dollars an ounce, in the latest transactions after it reached the highest level since May 8 last earlier in the session, and US gold futures fell 0.44% to $ 3382.60.
The yellow metal increased by 2.7% yesterday, Monday, recording its strongest daily performance in more than 3 weeks.
“The dollar was recovered a little and the gold decreased, as they have a reverse relationship at this stage,” said Gold Silver Central Director in Singapore, Brian, because the dollar was recovered a little and the gold decreased, as they have a counter -relationship at this stage. “
But he added that gold is still closely affiliated with developments in global trade.
The dollar index recovered a little from the lowest level in 6 weeks.
He said White House Yesterday, Monday, the American president is likely to speak Donald Trump And his Chinese counterpart Xi Jinping this week, days after Trump Beijing accused of violating an agreement to reduce customs duties and commercial restrictions.
The customs duties imposed by the United States are scheduled to be raised on steel and aluminum imports to homosexuals to 50% from tomorrow, Wednesday, the deadline set by the Trump administration to countries to present their best suggestions in commercial negotiations.
وجلمانات European Commission It will offer strong arguments this week to the United States to reduce or cancel CustomsDespite Trump’s decision to double customs duties on steel and aluminum imports.
As for other precious metals, its performance was as follows:
- Silver in instant transactions fell 1.41% to $ 34.26 an ounce.
- Platinum increased 0.73% to 1061.28 dollars.
- Palladium rose 0.39% to 996.89 dollars.
Oil
Oil prices rose today, Tuesday, due to the escalation of geopolitical tension with the escalation of the confrontation in the war between RussiaUkraine Phily Iran To reject an American proposal for a nuclear agreement that would reduce sanctions on the oil -producing country.
Raw contracts increased almost 3% in the previous session after the Organization of Petroleum Exporting Countries (OPEC) and its allies to keep the production increase in July at 411 thousand barrels per day, which is the same increase in the previous two months and less than what some people feared in the market.
In the latest transactions, Brent crude futures rose 0.22% to $ 64.77 a barrel, and West Texas Intermediate crude increased 0.24% to $ 62.67 a barrel.
“The risks bonuses reappeared on oil prices after extensive Ukrainian attacks on Russia early week,” said Harry Chillingian of the Unix Capital Group.
“But what is more important in the supply level is negotiation tours between the United States and Iran on uranium enrichment,” he added.
And Ukraine climbed andRussia At the beginning of the week, the confrontations are one of the major battles Drivers aircraft In their struggle, a bridge was detonated by a Russian highway over a passenger train, and an attack on nuclear capabilities in depth Siberia.
Meanwhile, an Iranian diplomat said on Monday that Tehran is heading to reject the American proposal to end the nuclear dispute for decades, describing it as not taking into account the interests of his country and does not include any mitigation of a situation Washington about Uranium enrichment.
If nuclear talks fail between US And Iran, as this may mean the continuation of sanctions on Tehran This limits its oil supplies and supports prices.
Prices received an additional payment of the dollar’s decline. The dollar index settled near its lowest level in 6 weeks, with investors ’agency assessing President Trump’s customs duties policy expectations, and the possibilities of their impact on growth and increase Inflation.
The dollar is made of pricing goods like oil is less expensive for other currencies.
The outbreak of forest fires in Alberta in Canada To a temporary stop for some oil and gas production, which may reduce supplies.
According to Reuters accounts, forest fires in Canada affected about 7% of the country’s total production of crude oil.
Prices may receive more support if the expectations of US crude stocks are lost in the latest weekly supply reports.