Gold retreats after rising expectations of a possible resurgence of inflation

Gold declined at the close of trading on Monday after the recovery of the US dollar, which benefited from its place among safe-haven assets that rebounded following concerns about Trump’s tariffs on the US economy.

Gold futures fell to $2,893 per ounce, compared to the previous daily close of $2,917 per ounce. The precious metal rose to its highest levels during Monday’s session at $2,926, compared to its lowest levels of $2,887.

Expectations of rising inflation in the Eurozone also increased after statements by Peter Kazimir, a member of the Governing Council of the European Central Bank, who warned that the risks of rising inflation in the Eurozone still exist.

The US dollar was able to recover, based on a deterioration in risk appetite due to statements by US President Donald Trump, who did not rule out that the US economy would be exposed to recession. Trump confirmed, during a television interview last Sunday, that the US economy is going through a “transitional period” that is witnessing the application of tariff policies that it imposes on trade partners.`