Gold gram trading at £3,804
The price of gold continues to rise as global tensions and trade war concerns impact the market. On Friday, the price of gold climbed to 3 thousand 769 pounds, marking a 1.1 percent increase compared to the previous day.
As the new week begins, the price of grams of gold has also seen an increase, reaching 3 thousand 804 pounds with a 0.4 percent increase. Quarter gold is being sold at 6 thousand 320 pounds, while Republican gold is priced at 25 thousand 200 pounds.
The price of an ounce of gold is currently hovering around record levels at 3 thousand 118 dollars, showing a 1 percent premium compared to the previous closing.
Global trade war concerns are on the rise as US President Donald Trump threatens tariffs on all countries. Geopolitical tensions are also escalating, with Trump warning of additional tariffs on Iran and Russia if they do not comply with a nuclear agreement.
Analysts suggest that Trump’s tariff policies are fueling inflationary concerns and increasing demand for safe-haven assets like gold.
Today, investors will be keeping an eye on the Consumer Price Index in Germany (CPI) and the DALLAS FED manufacturing industry index in the United States. Analysts point out that technically, gold faces resistance at $3,130 and support at $3,100.
Overall, the price of gold is expected to remain volatile as global economic and political uncertainties persist. Investors are advised to closely monitor market developments and make informed decisions to navigate these challenging times.
