The world price of gold today, December 17; 2633 dollars and 37 cents per ounce of gold
According to Reuters, the gold price follows the release of the US employment market report and the possibility of another Federal Reserve interest rate cut. has increased.
The price of gold per ounce increased by 0.06% to $2,633 and 37 cents today. The price of gold futures on the Comex market of New York has reached $2,659 and 60 cents with an increase of 0.42%.
Employment growth in the United States increased in November, but there was not much change in the country’s labor market conditions, which means the interest rate will be cut again at the Federal Reserve meeting this month.
US non-farm payrolls were higher than expected, which is not a good sign for gold in the short term. But the list of private sector salary earners is lower than expected and about 9,000 people, which increases the possibility of interest rate reduction in the coming weeks.
The value of the US dollar and the yield of the country’s treasury bonds fell after the labor market report showed that the list of non-agricultural wage earners increased by 227,000 people last month. This figure was equal to 36 thousand people in October.
The prospect of interest rate cuts, starting with a 0.50 percent cut in September, underpinned the rise the price of gold this year was The lowering of the interest rate reduces the cost of keeping gold as a non- profitable capital and increases the desire to buy it.
Traders are now 87 percent likely to cut interest rates by 25 basis points at the December Federal Reserve meeting. This probability was 72% before the publication of the US employment statistics.
Among other precious metals, silver rose 0.17 percent to $31.59 and platinum was down 0.97 percent at $931.55.
