Gold prices settled against the background of the federal statements after a decline

Gold prices stabilized after a fall, against the background of the Federal Reserve President Jerome Powell, saying that officials would not rush to lower interest rates, adding that they would stop the cash facilitation to make more progress in controlling inflation. The alloys are about $ 2760 per ounce, about $ 30 of the highest level ever. On Wednesday, gold prices fell 0.2%, after the Federal Committee for Open Mark kept unchanged. Powell told reporters that the US economy is still strong, and that borrowing costs are no longer major restrictions on activities as they were. In the aftermath of these remarks, the traders have reduced their expectations for the number of times the interest rates have this year, by praising them to reduce 43 basis points, compared to 48 basis points before, with the expectation of the first reduction in the mid -2025. High interest rates tend to press gold prices because they do not pay interest. Also read: The federal is keeping interest rates unchanged in the first meeting since Trump’s inauguration. When Powell was asked about the possible consequences of the new management policies, Powell said the central bank is in a “waiting and anticipation” position. Immediate gold did not change much at $ 2759.39 per ounce in Singapore at 08:16. The “Bloomberg” index of the immediate dollar fell 0.2%, while the silver stabilized, while platinum and platium prices rose.