Gold rises to its highest level in three and a half months


Gold rises to its highest level in three and a half months

Gold settled yesterday near its highest level in three and a half months, with the decline in expectations for interest rate increases

In the United States next month, recorded gold in the spot market to $ 1249 per ounce (31 grams), and is approaching the price of the highest level registered since November 2016.

And moving the precious metal price to record the highest daily increase of the sixth of this month, rising Thursday by 1%, and received gold in support of the decision of the US Federal Reserve to keep interest rates unchanged due to the absence of clarity on the economic policy of the new US administration led by President Donald Trump.

Said Ron Bar of the French bank Societe Generale The decline in the dollar price of US Treasury bonds benefited gold, investors are turning to buy gold when falling interest rates or the dollar or stocks in search of profits and vice versa.

The price ranges of gold since the beginning of this month, between $ 1220 and $ 1240, and according to Reuters data, the price of the metal has risen since the beginning of the year by 8.5%.

Other metals also rose; it stepped ounces silver to more than $ 18 increase averaged 0.8% and is heading to record the ninth week of gains in a row, and increased the price of an ounce of platinum rose 0.7% to $ 1009 .

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