The price of gold is near its standard levels with conflicting US interest expectations

The price of gold maintained its stability near its highest levels ever, despite the minor decline, with the evaluation of investors of positive economic data from the United States and the variation of the statements of federal reserve officials who added the mystery to the expectations to lower interest rates. The immediate price of gold recorded $ 3,743.09 per gram on Thursday morning in Singapore, an increase of 0.2%, after falling 0.7% in Wednesday’s session. The highlight this week was $ 3,791,10 per ounce, and approached a new record. Prices have dropped after data showing a sudden leap in the sales of new homes in the United States during August to score its fastest pace since early 2022, eliminating concerns about the slowdown in the US economy. At the same time, the dollar index rose to its highest levels in two weeks, making gold the highest cost for most buyers. For more read: The Federal Reserve chairman: There is no way from monetary policy free of risk within the federal, US Treasury Secretary Scott Besent on Wednesday said he was “disappointed” because Jerome Powell has not yet set a clear agenda to reduce interest. Earlier this week, Powell renewed the confirmation of the ‘warning’ approach to decision -making, amid references to the poor labor market and existing inflationary risks. Usually precious metals benefit from a low interest rate environment as they are not yields. Support of central banks and funds is supported this year by a series of factors, especially reducing interest last week, and the major demand for central banks, including reports on a Chinese plan to take over the role of the secretary of foreign sovereign gold reserves, strengthening the demand for the metal. Read more: China wants to switch to the ‘Secretary of Conservation’ of Global Sovereign Gold Reserves, as well as Golden Born Indirect Funds, have also seen strong flow, which reached their peak in three years last Friday. According to Bloomberg data, these funds have increased by 400 tonnes since the beginning of the year, with the exception of May. The anticipation of personal expenses is now turning to the personal spending report in the United States scheduled for Friday, which is the preferred scale of federal inflation. Expectations indicate a slowdown in this indicator, which can increase the chances of reducing interest in the coming months. In other markets, Silver and Platinum have not changed a significant change, while Redeemium has risen. As for the “Bloomberg” index to measure the dollar’s performance, it dropped 0.1% after climbing 0.6% in the previous session.