The gold price started the new trade week due to the strong dollar. Worries about an impending, global trade war were responsible for this.
By Jörg Bernhard
At the weekend, US President Donald Trump announced an inch of 25 percent to imports from Canada and Mexico and an inch of 10 percent to Chinese goods, which is due to come into force from Tuesday. Canada and Mexico have already announced retaliatory measures, while China said that Trump’s tariffs were being challenged before the world trade organization. This development did not help the gold price to an increase because the strong US dollar and the growing fear of interest rate are currently pressing massively on the mood of the gold market players. In addition to the stress factors already mentioned, however, also contributed to the decline, after all, the yellow precious metal recently marked a new all -time high with over $ 2,800. In the morning, the investors learn how in the Euro zone developed inflation in January. According to a survey published by Trading Economics, consumer prices are said to have accelerated from 2.4 to 2.5 percent PA and the core inflation is slowed from 2.7 to 2.6 percent.
Gold price with falling notations. Until 7.55 (CET), the most active future -traded future on gold (April) by 16.10 to $ 2,818.90 per troy ounce.
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Oil price: positive weekly start
Surprisingly, the US’s punitive tariffs have made the fossil fuels more expensive. From Tuesday, Canadian oil will be subject to an inch of 10 percent, while Mexican energy imports are occupied with the full set of 25 percent. This could result in higher costs for US consumers. However, the latest decline in the oil price could prove to be a “straw fire”, since the oil demand should tend to decrease through the introduction of tariffs and the threatened retaliation measures.
On Monday morning, the oil price presented itself with higher notations. By around 7.55 a.m. (CET), the nearest WTI-Future was increased by $ 1,38 to $ 73.91, while his counterpart attracted $ 76.42 to Brent.
Editor finance.net