2023-05-17 18:45:00
Gold prices fell to their lowest level in more than a month when dealings settled today, Wednesday, with the rise of the dollar and the continuation of negotiations on the US debt ceiling crisis.
The statements of US President “Joe Biden” provided support for the dollar and bond yields at the expense of the precious metal, as he expressed confidence that the United States will not default in fulfilling obligations and repaying debts, indicating that yesterday’s meeting with senior congressional leaders was fruitful.
“Gita Gopinath,” Senior Deputy Managing Director of the International Monetary Fund, expressed her concern that price pressures seem to be pervasive in many economies and that the risks of high inflation rates are great, so central banks must realize that insufficient monetary tightening currently may require more painful measures in the future. .
A Archyde.com survey showed that more than 60% of economists polled by the agency believe that the Federal Reserve will fix interest rates at the current level in a range between 5% and 5.25% until the end of 2023.
The markets are awaiting the release of unemployment benefits data in the United States on Thursday, before the speech of the Federal Reserve Chairman, Jerome Powell, on Friday, to anticipate the course of monetary policy during the coming period.
Upon settlement, June delivery fell by 0.4%, or $8.1, to $1984.9 an ounce, the lowest level since the end of last March.
On the other hand, it rose, which measures the performance of the US currency once morest a basket of six major currencies, by 0.2% at 102.80 points, following touching during the session its highest level in seven weeks at 103.11 points.
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