The global gold for the sixth week in a row has increased after the US inflation data came in line with expectations, which strengthened expectations that the federal reserve may continue to reduce interest rates later this year.
The price of the global gold ounce of the day increased by 0.9% to record the highest historical level at 3895 pounds per gram, after it opened today’s trading at the level of 3860 dollars for the ounce to circulate at the level of 3892 dollars for the ounce, according to the technical analysis of Bielon.
Gold prices today
– 24 caliber records 5971 pounds
– 21 caliber records 5225 pounds
18 caliber records 4461 pounds
Gold pound 41800 pounds
Global gold was able to rise during the month of September by approximately 12% to record an increase for the second month in a row, recording new record levels, and closer to the target that the global financial institutions set at 4000 dollars an ounce, which may reach it before the end of the year after the expectations indicate its arrival by the middle of next year.
The sharp wave of climbing continued in the global gold price to record 6 consecutive weeks from the rise to a new historical level during this week, to record gold an increase since the beginning of the year by more than 43%.
During the past week, gold was affected by a number of changes, the most important of which was the statements of the members of the American Federal Bank, headed by the bank’s president, Jerome Powell, who stated that the central bank needs to continue balancing the competing risks to high inflation and weak labor market in the upcoming interest rate decisions.
Powell also pointed to the increasing state of uncertainty about the American economy, stating that there is no risk -free path to reduce interest rates while curbing inflation and maintaining job growth.
