President Donald Trump once again has shown his affinity for gold, coming to the market’s rescue Thursday as prices fell to a two-month low. Silver prices have managed to outperform gold aud usd chart live forex room past week even though it is ending its second week in negative territory. According to many analysts, the growing threat of a trade war caused a sharp selloff in the U.
Before Trump’s tariff announcement the growing chance that the Federal Reserve could hike rates four times this year sent the U. Dollar Index last traded at 90 points, down 0. Looking forward, analysts say that investors and traders will continue to focus on potential tit-for-tat retaliations from countries like China, Canada and the European Union, adding volatility to financial markets, which will be positive for gold prices. The Canadian government and the European Union have already sent strong messages to the U. We strongly regret this step, which appears to represent a blatant intervention to protect U. We will not sit idly The EU will react firmly and commensurately to defend our interests,” said European Commission chief executive Jean-Claude Juncker.
David Madden, market analyst at CMC Markets. I don’t think there is much point to think about rate hike right now. How many times can the Fed hike rates if the global economy weakens because of a trade war. Ole Hansen, head of commodity strategy at Saxo Bank, said that not only has gold held critical support, providing short-term technical buying momentum, but he expects investors to continue to diversify into gold because of its safe-haven luster.