Gold was on his way to recording its first weekly decline in three weeks, after the decrease in geopolitical tension in the Middle East, reduced demand for safe havens, and the warning of the Federal Reserve increased the possibilities to lower the rate of interest rates. The immediate gold price won nearly $ 3.370 per gram on Friday, but dropped by about 2% during the week. A spokesman for US President Donald Trump said the president would decide his decision on Israel’s attacks on Iran within two weeks, reducing the fear associated with the outbreak of a comprehensive regional war that flowed energy and feeding inflation. This breakthrough came after the chairman of the Federal Reserve Jerome Powell indicated earlier this week to the risk of inflation due to the Trump agenda associated with customs duties. This can make it difficult for the central bank to lower borrowing costs, which is negative for gold that does not generate benefits, and usually achieves better performance in a low -interest environment. Despite the decline. Gold is still 30% high this year, despite the weekly decline, the precious metal has been about 30% since the beginning of the year, and it does not move far from the highest record level it recorded at $ 3,500 in April. This week, however, some indicators have emerged that investors preferred silver and platinum as options for a safe haven, in light of the high levels of gold prices. The views of Wall Street banks have varied as to whether gold will continue its standard heights. The Goldman Sachs Group has renewed its expectations for an ounces of price to $ 4,000 by next year, while City Group expects prices to fall below $ 3,000 at 2026. By 8:54 in Singapore, the immediate gold price fell 0.1% to $ 3,36,20, per gram. As for the Bloomberg index to measure the strength of the dollar, it also dropped 0.1%, but it is still 0.4% high during the week. The price of the silver remained stable, while platinum and albalium rose.
Gold is on its way to the first loss of 3 -week with declining geopolitical tension
