The price of gold rises with the cravings of the 'federal' US treasury to reduce interest

Gold prices rose for the third day, as bets increased to lower the Federal Reserve for interest rates, after Scott Besent, Treasury Secretary, requested the US central bank to reduce borrowing costs. The precious metal was traded nearly $ 3.370 per ounce, after Treasury bonds returned on Wednesday, as Pesent suggested that the primary interest rate of the federal is about 1.5 percentage points than it is now. Low borrowing costs and falling yields usually support gold prices, as they are already no benefit. A shift in cash facilitation expectations represents the high interests to reduce interest from last month, when markets have a possibility of less than 50% to reduce interest in September. Now the consensus tends to reduce a quarter of a percentage point next month, with a little bet on a greater reduction. Gold has risen by 28% since the beginning of the year, with most of these profits achieved in the first four months. Prices received support from the rising geopolitical and trade tensions that strengthened the demand for safe ports, as well as the purchases of the central banks that contributed to the consolidation of the strength of the metal. Immediate gold rose 0.5% to $ 3,372.03 per gram at 07:25 in Singapore, after it rose 0.2% in the previous session. The “Bloomberg” index of immediate dollars fell 0.1%. The prices of silver, platinum and albalium also rose slightly. The markets are still awaiting an official elucidation in whether the United States’ imports of gold bars will be subject to customs duties, after days of confusion caused by the price difference for future gold contracts in New York above the immediate prize in London. President Donald Trump said on Monday that he would not impose fees on alloys, which led to the approach of the two markets, but he did not provide additional details.