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[size=35][size=35]Gold prices continue to gain[/size]
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2022-07-28 | 03:32
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Alsumaria News - Economy
By 02:05 GMT, spot gold rose 0.2% to $1,737.44 an ounce, after rising 1% to a two-week high in the previous session. US gold futures rose 1 percent to $1,736.70 an ounce.
On Wednesday, the US central bank raised the interest rate by 0.75 percentage points in order to combat rising inflation.
Powell said that another "unusually large" rate hike may be appropriate at the September meeting, but the decision will be determined by expected economic data.The
dollar fell 0.6% in the evening and hovered near a three-week low on Thursday, which makes dollar-denominated gold Lower price for holders of other currencies.
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The yield on US Treasuries also fell to close to a two-month low. A lower yield reduces the opportunity cost of holding non-interest-bearing gold.
As for other precious metals, silver increased in spot transactions 0.4% to $19.20 an ounce. Platinum rose 0.4% to $890 an ounce. Palladium rose 0.6% to $2,042.51 an ounce.
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Economie
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2022-07-28 | 03:32
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160 views
Alsumaria News - Economy
Gold prices continued their gains today, Thursday, after statements by Federal Reserve Chairman Jerome Powell about the future hike in interest rates seemed less tight than expected, which led to a decline in the dollar and lower yields on Treasury bonds.
By 02:05 GMT, spot gold rose 0.2% to $1,737.44 an ounce, after rising 1% to a two-week high in the previous session. US gold futures rose 1 percent to $1,736.70 an ounce.
On Wednesday, the US central bank raised the interest rate by 0.75 percentage points in order to combat rising inflation.
Powell said that another "unusually large" rate hike may be appropriate at the September meeting, but the decision will be determined by expected economic data.The
dollar fell 0.6% in the evening and hovered near a three-week low on Thursday, which makes dollar-denominated gold Lower price for holders of other currencies.
[rtl]Related Articles[/rtl]
[rtl][You must be registered and logged in to see this link.]
[/rtl]
The yield on US Treasuries also fell to close to a two-month low. A lower yield reduces the opportunity cost of holding non-interest-bearing gold.
As for other precious metals, silver increased in spot transactions 0.4% to $19.20 an ounce. Platinum rose 0.4% to $890 an ounce. Palladium rose 0.6% to $2,042.51 an ounce.
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