The price of gold records its highest levels ever, with the drop of the dollar

The price of gold recorded its highest level ever with the dollar after the latest US economic data showed a weaker growth than expected at the end of last year. The average gross domestic product, according to the inflation of the US economy, rose 2.3% in the fourth quarter after the 3.1% increase in the previous three months, according to the initial estimate of the government published on Thursday. The average expectations for the Bloomberg poll for the economists expected a 2.6%growth. Read more: The US economy is growing 2.3%in the last quarter of 2024. The US currency exchange rate dropped to the data, which led to a rise in the price of gold 1.4% to 2.798,59 dollars per ounce, which exceeded the previous standard level, which he recorded in October. It should be noted that the weakness of the dollar alloys makes more attractive to investors who have other currencies in the US currency. The weakest growth of the economy supports the reduction of interest, Oli Hansen, head of the commodity strategy at Saxu Bank, said the recent effort by the Precious Metal to record a new record, “certainly took place to the data of the weakest gross domestic product that led to a further decline in the dollar.” He added: “If the worst growth and low prices continue, the door will remain open for extra interest rates.” Low interest rates will benefit the price of gold that does not produce returns for its possession. Monetary policymakers remained interest rates at the end of their first meeting for this year, Wednesday, and Federal Reserve President Jerome Powell said officials would not rush to lower interest rates because they were waiting for more progress in inflation. The immediate gold price rose 1.2% to $ 2,791.79 per gram at 12:25 p.m. in New York.