Gold prices rise after US data improve interest reduction improvement

Gold rose after a poor inflation report, which strengthened the bets on the possibility of the Federal Reserve to lower interest rates later this year. Insect inflation in the prices of producers in the United States remained in all areas during May, in another indication that customs duties have not yet led to raising prices for consumers and businesses. Meanwhile, the job report has shown that repeated unemployment applications in the United States have risen to the highest level since the end of 2021, and this has contributed to the evidence that unemployed Americans are taking longer to find new jobs. The yields of bonds and the dollar are dropping … and gold benefits the drop in the yields of the Treasury and the dollar after the data is released, which increased the price of gold by up to 1.3% before reducing part of its profits. Traders have raised their bets on a possible reduction in the federal interest rate later in the year. Gold usually benefits in an environment characterized by low interest rates. Gold had earlier received support in the demand for safe ports. Officials said the United States ordered some of its employees to leave its embassy in Baghdad, after Iran threatened to discontinue US origin in the Middle East if attacked by its nuclear program. You may also be interested in: Gold exceeds the euro to become the second largest reserve origin in the world, Trump, suggesting that it will soon impose one -sided fees on a separate level. The president also pointed out that the trade framework with China was completed, while maintaining mutual customs duties between the two largest economies in the world at their current levels. The uncertainty about world trade and the escalation of geopolitical risks has led the market to shake this year, which strengthened the attraction of gold as a safe haven and pressed to achieve profits since the beginning of the year of 29%. Immediate gold prices rose 1% to reach $ 3:57 pm per gram in New York at $ 15:57. At the same time, the immediate “Bloomberg” index of the dollar continued its losses to fall by 0.6%. Silver and platinum prices have risen, while pacalium prices have fallen.