Gold prices jump to record levels

Follow-up- Al-Zawiya Net- Gold prices recorded a record increase due to the announcement of US President Donald Trump on the new commercial tariff with America’s partners.

The decision raised the waves of repercussions that swept the global markets with negative aspirations for the experts, which was reflected in the price of gold, which is considered a safe haven for investors that prices reach a record value.

The price of an ounce of gold was welcomed around the price of $ 3150 for a short period, breaking the highest wall, which reached 3177 dollars during the 52 weeks (trading year), while the minimum price of gold during the same period was $ 2267 per ounce.

It is noteworthy that the new Trump tariff list included a number of commercial partners from Arab countries led by the Kingdom of Saudi Arabia, Egypt and others.

GB Morgan analysts said in a memorandum to investors that if the US President, Donald Trump, kept the huge customs duties announced, it is likely that his unprecedented commercial policies will lead to the recession of the American and global economies in 2025.

This is not completely surprising: before Trump announced the comprehensive and mutual customs duties today, GB Morgan analysts expected to enter the US economy in a recession of 40%.

Source CNN