The price of gold drops before US inflation data

The price of gold has dropped to eradicate some of the early profits made after a sudden drop in the price of the price of US producers, which strengthens the betting that the Federal Reserve will facilitate monetary policy. The precious metal fell by about 0.5% to about $ 3623 per ounce, less than $ 50 than the peak recorded earlier this week. The decline came after the data showed that the prices of producers in the United States for the first time in four months unexpectedly, which supported traders’ expectations to lower the costs of the US borrow next week. The following report that markets will be the consumer price data that will be released later that day. Three discounts of interest before the end of the year and the Federal Reserve is generally expected to reduce interest by a quarter of a percentage point this month, with the possibility of two extra reductions before the end of the year, in light of the policymakers who want to support the economy, facing a series of poor indicators in the labor market. Gold prices benefit from the fall in interest, as it is an origin that does not produce returns. The yellow metal has risen by 40% since the beginning of the year to become one of the best goods, with the support of the purchases of central banks, geopolitical tensions and concerns about the influence of US fees on the global economy. The increase in interest reductions has also led investors to pump large liquidity into golden boxes, which contributed to the rise in prices. The movements of US President Donald Trump against the ‘federal’ also contributed to supporting the metal as a safe haven, especially after being stabbed in a judicial decision that the province of Lisa Cook could remain in her position. Gold fell 0.3% to $ 3631.33 at about 2:09 pm in Singapore, after rising 0.4% on Wednesday. The Bloomberg index of the dollar has risen slightly. Silver has approached the $ 41 level to the ounce, after it has jumped by more than 40% since the beginning of the year. Platinum and Baladium also decreased. In Gaza News, Barrrick Mining agreed to sell the last mine in Canada to Carcetti Capital for up to $ 1.1 billion, in a move aimed at one of the largest gold production companies in the world to take advantage of high prices. * The prices have been updated to reflect the reality of the market