- American actions increased in the first agreements after falling during recent sessions.
- European stock markets have also given an elevator in afternoon transactions.
- The precious metal “has reinforced the increased demand for paradise”.
London: Gold exceeded $ 3,000 for the first time Friday, while the trade wars of US President Donald Trump stimulate the security assets, while the stock markets have rebounded in the hope that US legislators will avoid a government closure.
American actions increased in the first agreements after falling during recent sessions while Asian actions ended the week on a positive note.
European stock markets also received an elevator in transactions after the afternoon after Germany has moved to approve a massive infrastructure and expenditure program.
In Washington, with only hours until a deadline to push a republican spending bill, the Democratic leader of the Senate Chuck Schumer abandoned his threat to block him.
The package would allow the government to operate until September, but the Democrats underwent the pressure of their base to challenge the plan, which, according to them, is full of harmful spending cuts.
The actions have obtained the support of a “emerging feeling that a government judgment will be avoided after Senator Schumer said that he would vote for a continuous resolution of the house,” said Patrick O’Hare, analyst at Briefing.com.
O’Hare said the actions also got a boost of speculation that China will announce more recovery measures, and reports that meetings between Canadian and American officials may have made progress towards the relaxation of trade tensions.
The London FTSE 100 index increased while the pound fell against the dollar, after the data showed that the British economy has decreased unexpectedly in January.
In the euro zone, Paris and Francfurt both rebounded after losses the day before on American price threats.
Germany’s next Chancellor, Friedrich Merz, said his conservatives had entered into an agreement with the Greens to massively increase defense and infrastructure spending, paving the way for the approval of the plan in Parliament.
Time of uncertainty
Gold, a safe refuge in times of uncertainty, increased up to $ 3,004 per ounce before reintegrating the gains later in the day to exchange less than $ 3,000.
The precious metal was “stimulated on an increased paradise request in the risk of trade war risks and the recent volatility of the stock market markets,” said Fawad Razaqzada, analyst at City Index and Forex.com.
In the last salvo, Trump threatened to impose 200% of wine prices, champagne and other alcoholic drinks from the countries of the European Union.
Its threat occurred after the planned levies of the block on American manufacturing whiskey and other products in retaliation for American samples on steel and aluminum.
Trump said that he would not bring metal tasks, nor planned to sweep the prices on the countries of the world due to April 2.
Wall Street was hammered during recent sessions by commercial tensions, the S&P 500 slipping Thursday in a correction, after falling by more than 10% of its recent peak – a record hit last month.
In Company News, the actions of Gucci-Prroprétaire Kering fell by more than 11% in Paris while the group appointed a new creative director to direct its flagship brand in difficulty.
BMW’s actions were in red while the German car manufacturer warned that trade tensions between the United States, Europe and China would cost the company $ 1 billion this year.
The major conglomerate CK Hutchison Holdings – belonging to the Li Ka -Shing Magnat – tightened in Hong Kong after Chinese City officials republished an article of opinion attacking the company on its sale of controlling participation in Panama ports under pressure from Trump.
He increased up to 25% after sale last week.