Expert and strategic and economic analyst engineer Mohannad Abbas hadadin said that gold witnessed on Friday a new record in the rise, as it exceeded the barrier of 2730 dollars per ounce, due to several factors:
اضافة اعلان
1.Geopolitical tensions in the Middle East after the murder of Sinwar by the Israelis have once again confused the cards of the region, and fears that they are heading for further escalation.
2.Data from some central banks indicate that their demand for gold this year increased by 6% from the previous year.
3 .The reduction of interest in the eurozone to up to 3.5% ,and expectations of further interest cuts on the dollar by the US Federal Reserve after the first reduction last month .
4.The fever of the US elections, which may witness unexpected events in the coming weeks.
5.Increased demand for gold due to competition on the use of artificial intelligence technology, where demand for it increased by 11% this year.
All these reasons led investors to resort to the yellow metal as a safe haven.
As for oil, it recorded a weekly decline of 7% due to the slowdown in the Chinese economy, where it recorded a decrease in demand for oil less than expected, and the recent statements of US President Biden in Germany regarding his dealings with Israel and Iran, which we may witness calming shifts in the coming weeks and concluding a prisoner exchange deal and stopping the Gaza war, at least temporarily, and thus calming the south Lebanon front or entering into a truce at the very least, so that the United States would enter its elections quietly without any influence by its foreign policies and its results on the elections of the Democratic Party and its candidate, Kamala Harris .
The American citizen is burdened with debt and high prices, and climate changes in some States has all weighed on his ankle, so there is no possibility of further price increases, which may come with a crazy rise in oil to the 200 dollar barrier if Israel recklessly strikes Iranian oil facilities and the resulting consequences lead to the closure of the Strait of Hormuz, through which 20% of world oil exports pass, or Israel strikes the Iranian nuclear reactor, which may put the nuclear files of the ten countries that own this weapon on the table, as Russia is by North Korea, targeting Israel with one or both of the two objectives .
Democratic Party will worry about entering the United States into complex calculations, which may lead to losing the election to the rival from the Republican Party Trump.
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