Gold prices vary before issuing major US economic data

Gold prices ranged with investor evaluation of US interest rate expectations, before an important report on inflation in the United States was released later this week. The precious metal traders expressed the enthusiasm for the chances of lowering the Federal Reserve for interest rates next month, after council’s speaker Jerome Powell opened the door with caution before cash facilitation, pointing to the growing risks in the US labor market. Before -metals usually benefit from low borrowing costs as they do not pay benefits. The traders now see that there is an opportunity of more than 80% for the federal to lower interest rates next month, although the ambiguity is still common until after September, as the council also has to handle inflation that can further save by the import fees introduced by President Donald Trump. Traders are preparing for an uncomfortable reading of prizes later this week. Ahmed Asiri, a short -term risk, in favor of gold, wrote the strategy of research by “Bibston”, in ‘Ne -mail -note that “the short -term risk and yields may have turned in favor of gold.” He added that Powell’s statements are the belief that the critical facilitation is coming, “even if this vision was a precedent for the expected data.” Due to the future, “more indicators about the poor labor market will increase the justifications for reducing interest and increase the demand for gold.” Gold rose in more than one quarter of this year, and most of the profits were made during the first four months, supported by the escalation of geopolitical and commercial tensions that motivated the demand for safe ports, together with the purchases of the central bank. Some observers, including the Wealth Management Unit in the ‘UPS’ group, expect a further rising to the precious metal. However, hedge funds have reduced their budgets on gold to the lowest level in six weeks, according to the latest data from US futures for futures. Metal prices move direct gold, 0.1%, up to $ 3,368.60 per gram at 15:31 in New York. The “Bloomberg” index added 0.5%to the immediate dollar. The prices of silver, platinum and albalium also dropped. As far as buyer is concerned, it rose 0.5% on the “Comx” scholarship at 1pm in New York to settle at $ 4.5485, while the London metal share exchange was closed due to a holiday.