The price of gold is near its historic summit, amid the anticipation of the federal reserve

The price of gold has risen while speculators evaluate the impact of US economy -data and the future of the US Federal Reserve, at a time when legal battles escalate over US President Donald Trump’s attempt to reject the bank’s province, Lisa Cook. An emergency hearing was held at Cook in Washington as a judge looked at whether she should issue an order that enabled her to continue her duties. Trump’s unprecedented attempt to dismiss Cook increases skepticism about the independence of the Federal Reserve, which is an essential pillar of financial markets in terms of inflation and economic growth management. The interests accepted by the federal often define the direction of gold. Investments are on the way to gold, “Buffalo Commodities”, “another layer of geopolitical fog associated with the risks surrounding the FBI and institutional independence in general is pushing investment flow to gold.” He added that the expectations to increase the purchases of central banks from the precious metal in September also supported the market. Read more gold in state treasures: Who is the leader? Gold is a safe haven in times of political and economic turmoil, and usually benefits from the low interest rate environment. Prices rose 0.9%today, 3446.27 dollars per ounce, to approach the highest level at $ 3500.10 registered last April. Meanwhile, US data today has shown continuing inflation in the United States at high levels, as the FBI’s favorite indicator to measure prices above the target range has remained. Nevertheless, spending of US consumers ascended in the biggest rate in July last year, indicating a force in demand. The speculators continued to bet hard on US interest in September. US consumer spending becomes more powerful despite firm inflation. More details here the immediate gold price rose 0.8% to $ 3444.94 per gram at 11:24 p.m. New York. As for the Bloomberg index of the immediate dollar, it remained unchanged. Silver got up, while platinum and leaf has withdrawn.