Modest gold gain with increasing bets for US interest

Gold prices maintained limited profits after US inflation data matched the expectation, strengthening the bets to lower the interest rate next month. The precious metal remained stable after the previous session ended by 0.2%, after a report showing that the basic inflation in the United States has accelerated the strongest rate since the beginning of the year, while the slight increase in commodity prices has reduced concerns about pressure as a result of customs duties. This data has reinforced the speculation that the Federal Reserve will lower the cost of loans next month, especially in light of the slowdown in the labor market. Gold, which does not benefit, usually benefits from the low interest rate environment. Stay tuned for fees for importing Gold bars, and customers are still waiting for the import of gold bars US customs will undergo. President Donald Trump said on Monday that it would not undergo drawings without providing details, after the Customs and Border Dead Agency surprised the markets on Friday by announcing that it would be subject to fees. After Trump’s remarks, the prices of future gold contracts in New York and the immediate gold prices in London were approaching. Gold contracts resigned on the “Comics” exchange in New York on Wednesday, nearly $ 3,400 per gram, while immediate gold trading was almost $ 3.350 an ounce, and as the differences in the delivery dates were adjusted, the two markets became almost equal. Since the beginning of the year, strong profits since the beginning of the year gold has risen by 28%, and most of these profits have come during the first four months, supported by increasing demand for safe ports, amid increasing geopolitical and commercial tensions, in addition to strong purchases of central banks. Immediate gold rose 0.1% to $ 3,351.25 per ounce at 07:37 in Singapore. The dollar’s Bloomberg index remained stable after falling 0.4% on Tuesday. Silver and platinum prices stabilized, while palladium dropped.