Home » Business » Federal Reserve unleashes precious metals.. Gold flirts with $1,800

Federal Reserve unleashes precious metals.. Gold flirts with $1,800

Powell Yesterday, Wednesday, it was time to slow down the pace of the next price increase Benefit American.

Market participants now largely expect the US central bank to raise interest rates by 50 basis points at its next meeting in December.

Lower interest rates make the precious metal more attractive and reduce the opportunity cost of holding non-interest bearing gold. Gold closed out November trading, up more than 8%, which is the highest monthly rate of increase since July 2020.

Investors are now waiting for US nonfarm payroll data to be released Minister of Labour Friday, which may affect monetary policy decisions.

price movements

By 04:45 GMT it had gone up gold In spot transactions, it rose 0.6% to $1,779 an ounce, after hitting its highest level since Nov. 16.

Increased US gold futures 1.8 percent to $1,792.60 an ounce.

And for other precious metals it has increased Silver 3.5% at $22.55 an ounce. rose Platinum 1.4 percent, to $1,054.30 an ounce. while climbed palladium 2.4 percent at $1,910 an ounce.

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And he said Powell Yesterday, Wednesday, it was time to slow down the pace of the next price increase Benefit American.

Market participants now largely expect the US central bank to raise interest rates by 50 basis points at its next meeting in December.

Lower interest rates make the precious metal more attractive and reduce the opportunity cost of holding non-interest bearing gold. Gold closed out November trading, up more than 8%, which is the highest monthly rate of increase since July 2020.

Investors are now waiting for US nonfarm payroll data to be released Minister of Labour Friday, which may affect monetary policy decisions.

price movements

By 04:45 GMT it had gone up gold In spot transactions, it rose 0.6% to $1,779 an ounce, after hitting its highest level since Nov. 16.

Increased US gold futures 1.8 percent to $1,792.60 an ounce.

And for other precious metals it has increased Silver 3.5% at $22.55 an ounce. rose Platinum 1.4 percent, to $1,054.30 an ounce. while climbed palladium 2.4 percent at $1,910 an ounce.

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