Gold prices settled below $ 2900 per ounce to Powell speech

Gold prices dropped for the second day, away from the highest record level, after the president of the Federal Reserve Jerome Powell statements has no need to lower interest rates. Gold prices dropped below $ 2890. Powell confirmed to Senate members on Tuesday that the US Central Bank will wait before taking more cash facilitation measures. At the same time, US Treasury bonds have increased ten years, which is a pressure on gold as it does not know again. Gold prices in 2025 gold achieved a significant increase, with successive levels, which could pave the way for a $ 3,000 test test. This increase has come with an increase in demand for safe ports, especially after US President Donald Trump launched a series of strong measures in the field of trade, including the introduction of fees on steel and aluminum imports. Also read: Goldman Sachs’ expectations for gold support prices. Traders are trying to assess the potential impact of this policy on the US economy and monetary policy amid fear that the position of the White House over trade and immigration will lead to high inflation and influence on growth. During his testimony Tuesday, Federal Reserve President Jerome Powell said it is not wise to predict the policy of customs duties. According to the “Bloomberg” accounts, the gold height is strong after gold connection investment funds, as the global interest has risen over the past six weeks to reach the highest level since November. When does the price of gold reach $ 3,000? Some banks expect gold to reach $ 3,000 a gram soon, as the “City Group” group said last week that it expects this level to reach within three months, with the ongoing escalating geopolitical tension and commercial wars to improve the demand for precious metal. Read more: “City” expects the price of gold $ 3000 to amount to Trump’s fees. Investors will follow a major reading of the inflation rate in the United States later on Wednesday. It is expected that the work of the Work Statistics Office will show that the consumer price index, with the exception of food and energy, has risen by 0.3% in January, which is the fifth time over the past six months, which supports the federal reserve to keep interest rates unchanged. The Instant Gold Price, which is more than $ 2942 high, fell 0.5% to 2884.57 dollars per gram in London on Tuesday. On the other hand, the immediate Bloomberg index for the dollar increased by 0.1%. Silver remained largely stable, while Platinum and Bolladium decreased.