Since the beginning of the year, gold has grown nearly 30%, while the gold ratio has reached the highest level since 1994.
The gold price on Friday sank to nearly $ 3,300 per ounce, losing position after a recent growth. The reason is the possible decrease in China to import tariffs from the United States, which has reduced the attractiveness of gold as a “protective” owner. Trading Economics reported this Friday, April 25th.
The media reports that Chinese authorities have called on companies to determine goods that can be exempted from the current 125% of the fee. This may indicate an attempt to decompose the trade war in Washington.
Information appeared against the rear of Donald Trump’s statements that trade negotiations in China continued – despite the denial from the official Beijing.
Recently, gold has reached a record of $ 3,500 in the midst of the US economic state of recollection, but then the price has reduced after Trump’s position has softened regarding the freedom of the Federal Reserve System.
Since the beginning of the year, gold has increased in prices by almost 30%. At the same time, the gold ratio of silver has grown to the highest level since 1994 (if you do not consider the pandemia period), emphasizing its strong position in the market.
Remember that China has accused Washington of abuse of tariffs and warned countries from the conclusion of a broader economic transaction in the United States to exclude Beijing.
Gold in the first -time history chances have surpassed the line of $ 3500
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.