Gold Trades at 3,804 Pounds per Gram
The price of gold continues to rise as global tensions and trade war concerns persist. On Friday, the price of gold reached 3 thousand 769 pounds, marking a 1.1 percent increase from the previous closing. The price of grams of gold also saw an increase of 0.4 percent, reaching 3 thousand 804 pounds.
With geopolitical tensions escalating, US President Donald Trump has threatened to impose additional tariffs on Iran and Russia if they do not comply with a nuclear agreement. This has further fueled concerns about a global trade war and inflation, leading investors to turn to safe-haven assets like gold.
Despite these uncertainties, the price of gold is nearing record levels, currently standing at 3 thousand 118 dollars per ounce. Analysts predict that the price of gold may face resistance at 3 thousand 130 dollars and find support at 3 thousand 100 dollars.
In the midst of these developments, market players are keeping a close eye on economic indicators such as the Consumer Price Index in Germany and the DALLAS FED manufacturing industry index in the United States. The future direction of the gold market remains uncertain as investors navigate through a complex web of geopolitical and economic factors.
