Gold reaches 3000 dollars for the first time on global growth concerns

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Gold has risen to a standard level above $ 3,000 per ounces, as it pays fears of the threat to global growth from investors in the trade war Donald Trump to a safe metal.

The price of alloys rose to 3,004 dollars per ounce that is narrated in early trading on Friday. Gold has been among the best assets in the world since Trump took office in January, and 14 percent rose since the beginning of the year.

The rapid tariff policies that the US President changed fears that the World Trade War will lead to nutrition and cause economic slowdown in the United States and beyond, which caused Wall Street stocks to correct and add to goldcall.

Expectations of interest rates by the United States Federal Reserve The alloys, which usually benefit from the non -higher assets, have also increased the decrease in borrowing costs.

“Founded and private investors turn into gold to hedge their governor against economic turmoil,” said Alexander Zumpev, the chief of precious metal merchant at Heaeus.

He added: “The material gold market suffers from a strong demand, especially in Germany, where valuable minerals have long been estimated as protection against economic crises.”

Fears that Trump may put a customs tariff on alloys has prompted an unprecedented increase in gold bars to New York, where stocks on Comex have reached record levels.

Since Trump has been elected, more than $ 70 billion of gold has been transferred to New York, although this flow started to slow down.

The unexpected increase in gold prices this year sent the investment banks race to review their prices. At least four banks have raised – Citibank, Goldman Sachs, Macquarie and RBC – their price expectations in recent weeks.