Gold prices rose on Tuesday. The slowdown in economic growth caused an increased demand for defensive assets. The IMF lowered its growth forecasts for China and the EU. The destabilization of the world economy can continue if the trade conflict between China and the United States does not come to an end. World economic news has sparked investor interest in traditional assets like gold. However, metal prices will not rise too quickly due to the appreciation of the US dollar. The value of the dollar has been close to the maximum for three weeks already. An increase in dollar quotes to other currencies may adversely affect the cost of raw materials that are traded in dollars. Its price may be inflated for holders of other currencies.
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