US President Donald Trump’s statements continue to be effective on the direction of the markets. While Trump maintains the “tariff duel”, especially China, deepening the question marks on the course of restoration among the two largest economies in the world, increasing trade war and recession concerns support the demand for safe port assets.
Analysts, the US economy is not possible to easily get rid of the negative effects of this process, he said. Analysts stated that the uncertainty of the tariff increases recession concerns in the United States and reported that this caused this situation to weaken the dollar against other currencies.
With these developments, the Dollar Index, which tested the 100 level for the first time since July 2023 last week, has declined to 99.014 and saw the lowest level since April 2022.
On the macroeconomic data side, worries about the US tariff steps will revive inflationist pressures in the country, while data announced in the US last week showed that inflation continued to slow down.
Accordingly, the Consumer Price Index (CPI) decreased by 0.1 percent on a monthly basis in March, while on the annual basis, 2.4 percent took place below expectations. Thus, for the first time since May 2020, CPI decreased on a monthly basis. The core CPI, which does not include variable energy and food prices, increased in March with 0.1 percent monthly and 2.8 per year.
Gold reached the summit again
The agency of the US Chinese trade war and the weakening of the dollar turned to the safe port “Gold”. The price of ounce of gold reached the highest level of all time with 3 thousand 245.43 dollars on Friday. The price of ounce of gold completed the week for $ 3 thousand 238 dollars. Silver prices gained value with the response purchases after the harsh decline and completed the week for $ 32.30.
Although Platinum and Palladium prices fluctuated similarly to the general trend of the precious metal market throughout the week, concerns and concerns for the automotive sector have limited prices and prevented the reflection of high -rate increases by limiting prices.
With the impact of these developments, prices on ounces, 9.1 percent in silver last week, 6.6 percent below, 2.9 percent in platinum, and 0.3 percent in palladium increased.
Some metals rose with dollar support
Although some metals started last week with a negative course with a negative course with tariff voltage and trade war concerns, Trump followed a positive course except the zinc with the influence of the decline in the dollar index for 90 days of additional tariffs for these countries.
In some markets in the market this week, prices in the basis of Libre 4.1 percent in copper, 3 percent in nickel, 0.5 percent in bullet and 1 percent in aluminum increased, decreased by 0.2 percent in zinc.
Petroleum regressed with the concern of demand
Petroleum prices have increased the pressure on the oil prices, anxiety of tariff moves between the United States and China, which will reduce the demand for global energy, and to increase the production of OPEC+, which consists of some non -OPEC Organization (OPEC) and some non -OPEC.
On the last trading day of the week, the barrel price of Brent oil has declined to $ 58.22 in international markets, seeing its lowest level since February 2021. However, the expectation of decrease in global energy demand was reflected in natural gas prices and created downward pressure on prices.
With these developments, the barrel price of Brent oil decreased by 2.3 percent this week, while the price of natural gas traded on the New York Commodity Exchange in terms of British Thermal Unit (MMBTU) lost 7.7 percent.
Coffee and Cocoa lost value with the concern of tariff
Agricultural commodity prices, last week, global economic uncertainties, bad weather conditions and the effect of the falling dollar index followed a mixed course. Wheat prices, in Russia due to violence and frost incidents tend to rise. The expectation of drought in the Black Sea region and the news flow in Western Australia will narrow 9 percent of the news flow supported prices by increasing the risk of supply risk.
Corn prices gained value with weakened dollars and strong demand. The US reached 85 percent of the US export commitment target at 55 million metric tons (MMT) levels caused investors to reduce their net short positions in Egyptian futures. In addition, Brazil and Argentina’s production forecasts supported the price increase.
Soy beans prices, 121 thousand metric tons of special exports to an unknown region found support. Despite China’s additional tariffs, US shipments remained constant supported the rise. With these developments, prices per clan on Chicago Commodity Exchange increased 7.8 percent in soybeans and corn, 3.3 percent in rice and 4.8 percent in wheat.
On the other hand, coffee and cocoa prices were depreciated due to the continuation of concerns about the US’s high import taxes on Vietnam and West Africa, although additional taxes have been abolished. This increased the risk of market shrinkage for exporters and created downward pressure on prices.
Sugar prices lost value due to increasing global supply expectations and decline in oil prices.
With these developments, the Public Exchange Intercontinental Exchange, which operates in the USA, decreased by 5.4 percent in sugar and 2.8 percent in coffee, while cotton rose by 5.8 percent. The price of cocoa per tonal completed the week with a 1.5 percent decrease in supply concerns.
