Gold remains a refuge for investors: it reaches its maximum in 6 years

The tariff war between the United States and China intensified last week when President Donald Trump threatened to impose more tariffs on imports from China. For its part, China has allowed the yuan to fall below 7 units per dollar, which has led Washington to officially designate Beijing as the currency manager.

"The escalating trade tensions constitute a key backdrop that supports gold prices; another important factor is the mbadive increase in debt with negative returns," said badyst Ross Strachan. at Capital Economics.

Although it is possible to make a correction in the short term, many badysts now consider $ 1,500 per ounce as a turning point, according to Strachan.

In the debt market, US 10-year yields have fallen to their lowest level since 2016. On Tuesday, European sovereign bond yields reached record lows.

Goldman Sachs said in a note sent to his clients that he was no longer expecting the conclusion of a trade deal with China before the US presidential election of 2020. Morgan Stanley has Warned that the tariff war could lead to the global economy. to a recession from here the middle of next year.

Among the other precious metals, silver gained 1.9% to 16.76 dollars an ounce; while platinum added 0.5% to $ 851.79 an ounce; and palladium decreased 0.2% to $ 1,434.11.