The price of gold is near its highest levels, with waiting for the 'federal' decision on interest

The price of gold upheld its stability near a record level on Wednesday, with the ongoing demand for safe ports, amid a state of prudence in the market, before the Federal Reserve’s decision on interest rates. The direct gold price is trading at around $ 3.031 an ounce, after it recorded a new record at $ 3,038,33 on Tuesday. With the anticipation of the federal meeting, investors focus on updated economic expectations and expected statements by Federal President Jerome Powell, looking for signals about the future of US monetary policy. The impact of economic stress, although reducing interest reduction expectations can usually lead to low gold prices, but the precious metal is still supported by the high demand for safe ports. The fear of slowing down in the US economy is increasing, especially with the impact of the Trump administration’s customs policy on consumer confidence. Investors have reduced their possession of US shares at the highest registered rate, according to a modern survey of “Bank of America”, which reflects major transformations in the financial markets. The decline of economic expectations in the United States and the world has strengthened the position of gold as a reservoir of value at times of uncertainty. Gold prices have risen by more than 15% since the beginning of the year, after a strong performance in 2024. Several major banks have raised their expectations for the price of gold over the past few weeks. The performance of other minerals in the Asian market, the gold price did not see a significant change as it reached $ 3,032,66 per gram at 08:34 o’clock in Singapore. While the prices of silver and platinum dropped, while Palladium turned off. On the other hand, the dollar’s Bloomberg index remained unchanged.