Gold tends to achieve consecutive weekly profits that bring it closer to a new standard, with investors expecting inflation data in the United States, which can be decisive for the path of cash facilitation this year. The precious metal prices stabilized in Asia in Asia on Friday morning at about $ 3.415 per gram, after the data was released on Thursday, showing that the US economy had grown faster than expected. These numbers have expressed concern about inflation before issuing personal data for consumer spending on Friday, which is expected to show acceleration, which could limit the ability of the Federal Reserve to lower interest rates, a scenario that is considered a negative habit for gold because it does not generate yields. The expectation of lowering interest rates during September is also awaiting statements issued by the Federal Reserve member on Thursday, who is considered a prominent candidate to succeed Jerome Powell in the Federal Presidency next year. Wald said he would support a quarter of a percentage point in September, and that he would expect more cuts within a period of three to six months. Al -Makazat markets consider a possibility of about 85% to lower interest rates next month, but the ambiguity remains big on the path of inflation and the US job market after September, at the beginning of the impact of customs duties imposed by President Donald Trump in the economy. The increasing concern about federal independence has also strengthened the attraction of precious metal, after Trump moved this week to dismiss Federal Reserve member Lisa Cook. Prices are close to the standard April levels and gold has achieved 1.3% profits since the beginning of the week, to approach the highest level in April at around $ 3,500 per ounce. Commercial and geopolitical tension, investment flow also contributed to the traded funds, and the movements of the central banks to diversify their reserves away from the US dollar, to support the position of gold as a safe haven. And the immediate gold established $ 3,415.73 per gram in Singapore at 08:21, after it rose 0.6% on Thursday. The dollar’s Bloomberg index remained stable after losing 0.3% in the previous session. As for the silver, it remained stable, while the prices of platinum and albalium fell.
Gold is on its way to achieving weekly profits and approaching the historic April level
