Gold prices have expanded their profits after President Donald Trump announced his candidacy for economic advisers speaker Stephen Miran to fill the position of governor in the federal reserve. Trump said on Wednesday that Miran is likely to be nominated as a temporary member of the council to fill the vacant seat, rather than to nominate those who can leave the ‘federal’ President Jerome Powell, often criticized for his monetary policy. He added that Miran, whose appointment requires the ratification of the Senate, will occupy only the remaining period of the mandate of Governor Adriana Kogler, who ends in January. The effect of drop of the dollar on gold fell the dollar to decline, which contributed to the rise in the price of gold with a rate of 0.9%. Last week, the resignation of Kogler Trump gave to appoint a policymaker in accordance with his repeated invitations to lower interest rates, an environment that usually tends to support gold prices. The precious metal has risen by 30% since the beginning of the year, although most of these profits were achieved during the first four months, in light of the escalation of geopolitical and commercial tensions that increased the interference in the markets. The immediate gold price rose 0.9% to $ 3,400.06 per ounce until 16:22 hours in New York, while the Bloomberg index measures the dollar performance by 0.1%. Silver, platinum and balladium also recorded profits.
Gold prices rise after Trump’s announcement of Miran’s nomination for a ‘federal’ position
