Gold prices rose by 0.5% as of 10:34 GMT to trade at $ 1,226.12 per ounce from the opening level of $ 1,220.40 and recorded a high of $ 1,227.37 and a low of $ 1,220.40.
Yesterday, gold prices gained 0.5%, the first gain in four days, recovering from a two-week low of $ 1,211.91 an ounce and support for the greenback following comments by Jerome Powell.
The dollar index fell 0.2% on Thursday, extending losses for the second day in a row, reflecting the continued decline of the US currency against most major and secondary currencies, which currently supports the rise in prices of gold and other metals priced in US dollars.
“US interest rates are slightly less neutral,” said Jerome Powell, chairman of the Reserve Bank of the New York Economic Club. Investors interpreted the comments that the US interest rate hike is coming to an end. Jerome’s comments are a departure from his previous view last month that interest rates When the current range is far from neutral.
In order to reevaluate these comments and their impact, investors are expecting that at 19:00 GMT the minutes of the last meeting of the Federal Reserve, which took place on 7-8 November, and resulted in keeping rates steady at 2.25% Details To be in line with Jerome’s comments, the US currency is expected to continue falling and gold and other metals will rally.