Gold abandoned a record level with the repair of the dollar after the interest was lowered

Gold has dropped from the highest new standard level with the repair of the dollar after the Federal Reserve announced an expected reduction in interest rates, after months of serious pressure from the White House to lower the borrowing costs. At his press conference, which followed at the meeting, the President of the Federal Reserve, Jerome Powell, pointed out the increasing signs of weakness in the labor market and recognized the need to manage the risks of ongoing inflation. His statements were less pessimistic than his speech last month in the “Jackson Hall” symposium, which contributed to improving expectations to lower interest rates. Read the details: “The Federal Reserve” reduces the benefit of 25 basis points for the first time during the Trump’s Trump. He added: “I can no longer say that the labor market is very strong.” Also read: The current gold fever has nothing to do with inflation. And also not with gold, the dollar was restored to Powell’s comments, which led to the alloys dropping 1.2% before reducing some of its losses. The immediate gold price fell 0.8% to 3660 per ounce from 16:08 hours in New York, after fluctuations between profits and losses once the Federal Reserve declared. The US dollar index rose 0.2%. Gold for a short time, a new record recorded at $ 3707 an ounce following the decision of the Federal Reserve to lower interest rates, given that the low interest rate environment usually benefits the assets of safe haven. Also read: The conclusions of the US federal resolution have better highlighted the benefit of gold performance than the equities, Frank Moncmal, the overall trade chief of ‘Bavalo Bio Comodies’, reported that gold has a decline after being influenced by the effects of the morale of other assets, including the expectation of the expectation of the expectation of Federal Reserve. According to Montcam, the relative strength index of all -14 -day alloys – some price momentum – is still above the level of embarrassment, which according to Montcam indicates very quickly, which added that gold is subject to these kinds of corrections in the short term. The price of gold increased by about 40% this year, exceeding the S&P 500 index and other assets, and earlier this month the gold exceeded its amended inflation in 1980. The state of continuous commercial and geopolitical uncertainty has strengthened, along with central bank purchases and their flow to the trading funds, this momentum.