Gold prices recorded a standard peak that exceeded the level of $ 3,000, during early Asian trading, for the second time in a week, with investors seeking to hedge the economic fears that US President Donald Trump’s policies regarding customs duties.
Prices update
The price of gold in instant transactions increased 0.2 percent to $ 3008.08 an ounce by 02:49 GMT, after he recorded its highest level ever at $ 3012.05 an ounce earlier in the session.
Gold exceeded a barrier of $ 3000 an ounce for the first time on Friday.
US gold futures rose 0.4 percent to $ 3017.60.
In terms of other precious minerals, the price of silver in instant transactions increased 0.2 percent to $ 33.89 an ounce, and platinum increased 0.5 percent to 1004.65 dollars, and palladium rose 0.5 percent to $ 969.6, according to Reuters data.
Gold is always a hedge of geopolitical instability, and has jumped more than 14 percent since the beginning of the year. Since Trump took office in January, gold has scored a record highest 14 times, as commercial tension has strengthened the demand for safe haven.
Trump put forward plans for a series of American customs duties, starting with fixed fees of 25 percent on steel and aluminum that entered into force in February, mutual databases and on certain sectors that he said would be imposed on April 2.
“Gold is witnessing a noticeable increase due to the weakness of the dollar and the continuation of the uncertainty about customs duties,” said Edward Mayer, an analyst at Maricks.
The dollar index fell near its lowest level in five months, which made gold cheaper for foreign buyers.
Meanwhile, medical sources said that Israeli air strikes killed at least 200 Palestinians in the Gaza Strip today, without any indication of progress in resuming talks regarding the continued ceasefire agreement between Israel and Hamas.
