The price of gold drops with the reduction of interest reducing bets before Powell speech

Gold prices have recorded a slight decline as traders reduce their bets on lowering interest rates before federal reserve symposium in Jackson Hall, after strong data for the US manufacturing sector has strengthened the concerns about inflation monetary policy. The precious metal was circulated near the $ 3,330 per ounce in London, unchanged from the beginning of the week. An index of factories activities Thursday showed that the sector has expanded the fastest rate in more than three years with the support of the demand power. The financial markets confirm the possibility of reducing interest at about 73% next month, a decline in more than 90% a week ago. Powell Powell Speaker Jerome Powell is scheduled to deliver a speech on Friday at ten o’clock in the morning, New York Time, as part of the activities of the symposium in the state of Wyoming. Also read: Gold is retreating with interest in “Jackson Hall” in anticipation of interest and before the upcoming speech, which will carefully follow up in search of references to the path of monetary policy, Beth Hamak, president of the Federal Reserve Bank in Cleveland, said it would not support the reduction of interest if the decision would be made tomorrow. Other officials who spoke on Wednesday and Thursday adopted a similar strict dialect in light of the ongoing inflationary pressure. Gold and US interest expectations are expectations to lower interest rates, as well as geopolitical tensions and purchases of the central bank, which led gold to a record level in April, while the precious has continued to rise by more than 25% since the beginning of the year. Despite the remaining trade scope in recent months, market monitors, including the Wealth Management Unit at UPS Group, expect more Ascension. The price of gold fell 0.2% to $ 3,331.29 per gram at 10:43 in London, and the Bloomberg index settled the immediate dollar unchanged. The prices of platinum and silver dropped, while the price of paladium was a slight increase. Prices have been modified to reflect market movements