It is already clear to everyone that the trade war between the United States and China largely influenced the pricing of the yellow precious metal. In Asia, gold is growing steadily, but in Western countries, precious metals are under pressure. And this is no coincidence.
For two days in a row, the price of gold could confidently hold above $ 1,400 per ounce. On Wednesday, the precious metal traded on the US futures market at a price of $ 1,416.70 per ounce. Yesterday, July 4, exchanges in the United States did not work because of the national holiday of Independence Day.
This morning, gold in the spot market was trading at a price of $ 1,413, which corresponds to 1,252 euros. The precious metal is supported by active trade in Asia. It should also be recalled that it was the gold trade in Asia that was the impetus for overcoming the multi-year resistance level at around $ 1350 per ounce. Analysts say that it is the Asian market that maintains the world price of gold, while in the West there is serious pressure on the precious metal.