Gold prices ended on Monday (7) in a trading session characterized by strong fluctuation. The escalation of the trade war, with the imposition of definitions by the United States and China’s revenge, sparked fear of global recession.
The decline in the golden metal, which is traditionally seen as one of the preventive assets, reflects the last wave of sales, as investors filter the positions to cover the losses in other markets and analysts.
The golden nodes for June fell by 2.03 %, closed at $ 2,973.6 per Jaguar in Comex, New York Minerals Department (NYMEX). Despite the fall, the metal still accumulates approximately 11 % a year. Last week, he lost more than 2 % amid chaos resulting from customs tariffs.
According to Renisha Chainani, head of AugMont Research, in periods of strong fluctuations or sudden decrease in bags, it is common for investors to sell gold positions to increase liquidity. Project prices must stabilize this week between $ 2900 and $ 3000.
For analysts, minerals are under pressure as investors seek to compensate for losses in stock markets – which were recorded in the last two trading sessions, losses of $ 6 trillion in the United States.
However, they reside that the correction should pass, while intensifying commercial tensions that support the demand for defensive assets.
Jateen Trivedi, Vice President of LKP Securities, notes that the US consumer price index (CPI), which will be released in the coming days, must be decisive to expectations related to monetary policy.
“This factor can directly affect the gold path in the global scenario,” he said.
In China, the Central Bank stated that international reserves rose to $ 3.241 trillion in March, from $ 3.227 trillion in February, driven by assessing non -musical assets with weakening the dollar. Gold reserves in the country have increased for the fifth month in a row.
Last week, Goldman Sachs reiterated that the metal should remain sustainable through purchases from central banks and projects that reach gold to $ 3,300 from Jaguar by the end of 2025.
