Wednesday 27/November/2024 – 12:44 AM
Global gold prices rose during volatile Tuesday trading, with demand for safe-haven assets rising after a threat US President-electDonald Trump again imposed additional customs duties on China, Mexico, and Canada, despite declaring a ceasefire in Lebanon.
When trading was settled, spot contracts rose $7 to $2,633, and gold futures prices for December delivery increased by 0.1%, or $2.8, at $2,621.3 per ounce, after touching $2,642.70, according to Reuters.
Global gold prices rise
US President-elect, Donald Trump, said in a post on his social media platform, “Truth Social,” that he will impose additional duties on Chinese goods at a rate of 10%, and on Mexican and Canadian products at a rate of 25%, on his first day in office, on January 20. . This caused the dollar index – which measures the performance of the US currency against a basket of six major currencies – to rise by 0.2% to 107.03 points.
Limiting the yellow metal’s gains during the session, the geopolitical risk premium decreased after Israel’s security cabinet approved a ceasefire agreement with Lebanon.
