Gold prices stabilize their highest levels, with increasing interest rates rising

Gold prices stabilized near their highest levels with an increasing momentum to lower US interest rates, after Federal Reserve President Jerome Powell opened the door for a possible reduction in September. The alloys circulated nearly $ 3.370 an ounce on Friday, after 1.1% profits on Friday, when Powell used his most important speech at the Jackson Hall symposium to indicate the growing risks facing the labor market, even if the fear of inflation continued. The yields of the US Treasury effects for two years, the most sensitive to monetary policy, have decreased, while the dollar’s power index fell to the statements, which provided additional gold support, as it originally did not return and lived in the dollar. Al -Makazat traders now see that there is a possibility of more than 85% to lower interest rates next month. However, a high degree of uncertainty still surrounds the interest after September, as inflation in the United States is still higher than the federal goal, while the labor market shows signs of weakness. Powell pointed out that the economy has placed federal officials before a ‘difficult situation’, emphasizing that there are still questions about whether US President Donald Trump’s fees will be more sustainable. He also described the current situation of the labor market as ‘strange’. The performance of gold and other minerals increased with gold in more than one quarter of this year, with the most profits achieved during the first four months, supported by the escalation of geopolitical and commercial tensions that strengthened the demand for safe ports, as well as the purchases of the central bank. Some observers, including the Wealth Management Unit at UBS, expect more climbing prices for the precious metal. However, hedge funds have reduced their budgets on gold to the lowest level in six weeks, according to the latest data from the American Futures Trading Committee. Immediate gold fell 0.1% to $ 3,369.59 per gram at 07:52 in Singapore. The Bloomberg index of the dollar increased by 0.1%. As for the prices of silver and platinum, they remained unchanged, while palladium prices rose slightly.