The global price of gold increased; $2,308 and 64 cents per ounce
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The price of gold per ounce increased by 0.9% to $2,308 and 64 cents today.
The price of gold futures on the COMEX New York market increased by 0.16% to $2,321 and 80 cents. It has arrived.
Among other precious metals, silver was down 0.07 percent to $29.5 cents and platinum was trading up 0.66 percent to $959.10 cents.
Analysts believe that the outcome of the two-day meeting of the US Federal Reserve has caused instability in the gold market. The best condition for gold is continued low inflation. Because it will reduce the interest rate of the American central bank and as a result increase the demand for gold.
The US economic data released on Thursday showed that the country’s producer price index unexpectedly fell in May, which is another sign of the downward trend in inflation following its peak. It is in the first quarter of this year.
The US central bank has announced that it will keep interest rates at this high level for a longer period of time and will probably lower them for the first time in December. However, due to the low inflation rate in America, 67% of traders believe that the process of lowering the interest rate will start from September.
The low interest rate reduces the cost of keeping gold as a non- profitable capital and increases the desire to buy it. gives.
