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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Gold continues to rise for the fifth week in a row

    Rocky
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    • Post n°1

    Gold continues to rise for the fifth week in a row Empty Gold continues to rise for the fifth week in a row

    Post by Rocky Fri 20 Jan 2023, 4:30 am

    Gold continues to rise for the fifth week in a row

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    Economy News-Baghdad
    Gold prices rose today, Friday, in futures contracts, but they are now settling in spot contracts without an increase or decrease, and in general prices are heading towards achieving gains for the fifth week in a row, as the weakness of the dollar reinforced the rise in prices of the precious metal in the recent period, along with market expectations. on slowing the rate of US interest rate hike.
    US Fed member Patrick Harker said that the US Fed may intend to raise the key interest rate by 25 basis points for several times throughout 2023.
    Harker also predicts that the interest rate will be sufficiently constrained at some point; So that the US Federal Reserve keeps the interest rate in place to allow monetary policy to do its job.
    And the US Federal Reserve member stated that the bank’s goal revolves around slowing the US economy modestly while making demand more in line with supply, while Harker does not expect a recession, but he believes that the gross domestic product will witness real growth of nearly 1% this year, and it is also likely to grow. Output by about 2% in 2024 and 2025.
    The Fed still has a lot of work to do
    "Inflation risks remain on the high side, for now, and the next phase of deinflation will be more difficult," John Williams, a member of the US Federal Reserve Bank of New York, said today.
    He added, "The data will drive the next US Fed decision, and it will also determine the appropriate final rate of interest. The US Fed still faces some challenges with the core inflation readings."
    He stressed that determining the final interest rate or the speed with which the US Federal Reserve will reach this rate are not the main issues in raising prices. Inflation in the US is still very high and the US Federal Reserve has to do more work by raising interest rates.
    end of the tightening period
    The US Fed is expected to end the monetary tightening cycle after a 25 basis point hike in each of the next two policy meetings, then likely to hold interest rates steady for at least the rest of the year.
    With lower interest rates, which means lower returns from assets such as government bonds, investors may prefer gold.
    "There are indications that the US is likely heading into recession, and that will benefit gold," said Brian Lan, managing director at Singapore-based GoldSilver Central.
    Data on Wednesday showed US retail sales fell by the most in a year, putting the overall economy on a weaker growth path.
    The dollar index is heading for its second weekly decline, making gold cheaper for overseas buyers.
    ---

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    Added 01/20/2023 - 1:14 PM
    Updated 01/20/2023 - 1:28 PM
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