Since the beginning of September this year, the price of gold has entered a phase of consolidation, but now the yellow precious metal has again moved into the growth stage. Not to a small degree, whether voluntarily or not, American President Donald Trump contributed. But that is not all.

Over the past two weeks, the price of gold is in a short-term uptrend. The main driver of growth was the statements of Donald trump about the trade conflict with China. Each time there is hope for a resumption of negotiations, Trump again crosses out previous agreements in his own words, accusing the PRC that this Asian country does not keep its promises and is enriched at the expense of the United States. However, Finance Minister Stephen Mnuchin confirmed that an official meeting with Chinese colleagues will nevertheless take place in October.

Another factor of anxiety in the financial markets was the impeachment process against Donald Trump by his opponents. Moreover, a turbulent liquidity situation remains in the US money market. On Tuesday, the Fed made two transactions totaling $ 105 billion to keep repo rates low. The situation on the futures market also indicates that the price of gold and silver will remain in an uptrend. In the short term, the yellow precious metal can overcome the resistance level of $ 1,550 per ounce.