The world price of gold today, 29 Azar; $2,588 and 80 cents per ounce
reported Mehr news agency quoted by Reuters, after falling more than 2%, gold reached its lowest level since November 18 at $2,588 80 cents per ounce.
Federal Reserve reduced the interest rate by 25 points to the range of 4.25 to 4.5%, and its economic forecasts showed that by the end of 2025, the rate will be reduced by half a percent. had Jerome Powell said Fed policymakers would like to see more progress in reducing inflation given the path of future rate cuts, as inflation falls below expectations for the end of the year. The year has passed.
The U.S. dollar index hit its highest level in two years after the Federal Reserve decided to cut interest rates, making gold more expensive for other currency holders, while U.S. Treasury yields increased.
Markets now expect the Federal Reserve to leave its overnight interest rate unchanged at its January 28-29 policy meeting. Higher rates reduce the attractiveness of holding non-yielding assets. Traders await the release of key US GDP and personal consumption expenditure data later this week for further clues on monetary policy.
India’s government is reconsidering a surge in gold imports that pushed the country’s trade deficit to a record in November and pushed the rupee to a record low, two government sources familiar with the matter told Reuters. reached a historical limit.
SPDR Gold Trust, the world’s largest gold-backed mutual fund, said on Wednesday its holdings were 0.03 The percentage decreased and reached 863.9 tons.
Also in the market of other valuable metals, silver was stable at $29.37 per ounce, platinum decreased by 0.4% to $915 and 45 cents and Palladium fell 0.2 percent to $901.30.
