The price of gold settled near its standard peak with the anticipation of new signals of the federal

The price of gold maintained its profits for the fifth consecutive week, supported by the US federal, which lowered the interest rate for the first time this year, while investors are awaiting major inflation data released on Friday to determine the features of the next monetary policy. The yellow metal was only traded 20 dollars from the highest record level it reached last week, after the central bank lowered the interest rate by 25 basis points on Wednesday. The prices dropped from the historical high after Federal President Jerome Powell indicated that the upcoming decisions would be made as a ‘meeting with a meeting’, which reduced the rapid expectations for interest. Traders are awaiting this week’s economic activity data, along with the personal consumption expenses index in the United States, which is the preferred level of the federal to follow inflation. Estimates indicate that the growth of the indicator delayed last month, which could increase the position of advocates of more reduction. Powell also delivered a speech on economic expectations on Tuesday. Despite caution, traders are still priced for two additional reductions in the interest this year, which has been a major gold increasing factor for 40% since the beginning of the year. Prices also received support from safe haven flow amid geopolitical conflicts, the economic consequences of US President Donald Trump’s fees, as well as the purchases of the central bank and raising the shares of traded funds. By 07:36 AM Singapore, Instant Gold rose 0.1% to $ 3,688.40 per ounce. The dollar’s Bloomberg index rose 0.1%, while the prices of silver and platinum stabilized, and Palladium recorded slight profits.