The increase in global gold prices to the highest level in a month

reported by Mehr Reporter On Friday, January 28, 1403, gold was traded at the price of $2,710 per ounce in the world markets and was close to its highest level in a month. Recent US economic data showing a decline in core inflation and weakness in retail sales have bolstered expectations for an interest rate cut by the Federal Reserve.

Gold transactions rose to $2,722 per ounce last day, which is on the way to its third weekly increase. Hopes for further interest rate cuts by the Federal Reserve have been boosted after the release of new US economic data. Christopher Waller, a member of the Federal Reserve Board, announced that if the economic data continues to be weak, there is a possibility of three or four interest rate cuts this year.

On the other hand, potential tariffs from the new Donald Trump administration, which could increase inflation, have strengthened gold’s position as a safe haven against inflation. On the geopolitical front, the cease-fire agreement between the Zionist regime and Hamas has dampened demand for safe-haven assets, but gold is still up 1 percent this week.