On Friday, gold prices rose by more than 1% as a result of the dollar’s small dip, which helped remove some of the pressures brought on by the Federal Reserve’s monetary tightening policies (US Central Bank).
By 0618 GMT, the price of gold had gained in spot transactions by 1.1% to $ 1647.19 per ounce and in US gold futures by 1.2% to $ 1649.90 per ounce.
The dollar index fell 0. 4 percent, which increased the attractiveness of gold for other currencies.
“Gold costs…
, which indicate stability. However, we are unquestionably still in a dangerous stage, according to Clevord Bennett, chief economist of AC Securities.
On Wednesday, the Reserve Council increased interest rates by 75 basis points, and its head, Jerome Powell, vowed to “maintain” the fight against inflation.
For other precious metals, silver increased in instant trading 1. 4 percent to 19. 74 for ounce, platinum increased 0. 8 percent to $ 926. 10, and palladium rose 1. 4 percent to $ 1825. 87..
Gold prices increased during trade on Friday.
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