Gold prices are on their way to record a weekly loss after a decrease in interest reductions

Gold prices tend to record a weekly loss after customers have lowered their bets on the Federal Reserve next month, after data that showed high inflation. The precious metal circulated near the $ 3.35 level to the Ons, after the previous session ended 0.6%, to a report that revealed the acceleration of inflation in US wholesale prices during July in the fastest rate in three years. The income of the bonds and the dollar increased after the data was issued, which printed the gold that did not return and priced in dollars. The exchange traders now believe that the chances of reducing interest rates in September are about 90%, after the expectation has been fully reduced earlier this week. Gold usually benefits in the low interest because it originally does not know. Since the beginning of the year, it has been driven by the question of hedging. Gold has increased by more than 25% since the beginning of the year, with most of these profits in the first four months. The metal was supported by geopolitical and commercial tension that strengthened demand as a safe haven, in addition to the purchases of the central banks that contributed to strengthening its power. Last week, the controversy over whether gold bars would be subjected to US fees would be an increase in the price difference between future gold contracts in New York and the immediate prize in London. US President Donald Trump said on Monday that no fees would be imposed, which led to the narrowing of the gap between the two markets, but the official explanation is still awaiting. The immediate gold price won $ 3,336.45 per gram at 07:44 in Singapore to record a weekly loss of 1.8%. There was no change in the immediate “Bloomberg” index of the dollar. Silver prices remained stable, while the prices of platinum and platium dropped slightly.