Gold prices retained their profits for two days, after a sudden slowdown in US inflation resumed expectations by further lowering the Federal Reserve this year. The alloys were traded near the highest level in a month at 2695 dollars per ounce, after the rise in the consumer price index, which excludes food and energy costs, by 0.2% after four months of 0.3% increase. This indicated that US officials may have room to reduce monetary policy earlier than previously thought. Treasury and dollar income decreased to the report, which strengthened the attraction of alloys because they were not born back, and for most buyers become cheaper than the dollar weakened. Traders have now returned to full prices to lower interest rates by July, which is a transformation after the strong work data Friday, which led the market to withdrawing the forecasts of cash mitigation until September or October. The federal is confident in the fall in price pressure. A number of Federal Reserve officials on Wednesday expressed their confidence that the price of the price would continue to decline, but some warned that the fight against inflation had not yet ended. Reducing monetary policy was a major incentive for the precious metal height to a record level last year. Instant Gold did not change much at $ 2695.06 per gram from 07:51 in Singapore, after an increase of 0.7% in the previous session. The “Bloomberg” index of the immediate dollar was constant, and Silver on Wednesday maintained a 2.5%progress, while platinum and flat prices were set.
Gold prices retain their profits with renewed hope to continue to reduce interest
