Wed 09/April/2025 – 09:29 AM
Gold prices rose 1% today, Wednesday, April 9, 2025, as the dollar fell after the entry of customs duties imposed by US President Donald Trump on China, while most dealers resorted to gold as a safe haven with the escalation of global trade tensions and recession fears.
Gold rose in immediate transactions 0.9% to $ 3010.39 an ounce after 1% earlier in the session, and US gold futures increased 1.2% to 3026.90 dollars, by 0500 GMT, and the dollar fell, making the gold price in the dollar cheaper for other currencies.
Increase customs duties on Chinese imports
Trump raised customs duties on imports from China to 104% after Beijing imposed anti -American fees, and accused China of manipulating the yuan to make up for the fees, and China refused to bow to what it described as blackmail and pledged “to fight to the end.”
The customs duties for each country entered into force at 0401 GMT, as was decided by Tim Water, a chief market analyst in KSM, said “the dollar turns towards decline due to concerns about customs duties.
US Treasury Bonds
He added, “Because of the uncertainty about global growth and inflation, gold is still on the way to reaching new record levels despite facing some obstacles in its progress over the past week.”
He united the gains of gold, which does not generate the return of the standard American Treasury bonds for 10 years, which reached its highest level in more than a month, the price of gold reached its highest level ever at 3167.57 dollars an ounce on the third of April.
Prices of other metals
The markets are awaiting the record of the latest monetary policy meeting of the Central Federal Reserve, which is expected to be issued at a later time, as well as the consumer price index data in the United States on Thursday.
For other precious metals, silver settled in instant transactions at $ 29.84 an ounce, and platinum lost 0.2% to 919.10 dollars, while palladium rose 0.2% to 908.81 dollars.
