Islam Saeed Books
Tuesday, February 21, 2023 10:44 AM
witness Gold prices today Tuesday, remarkable stability for the third day in a row, to record a gram of 21 carat gold, which is the most popular in the goldsmiths market, 1690 pounds without adding workmanship, which is the lowest price of gold in 2023, with gold recording globally 1832 dollars.
Gold prices today:
18 karat recorded 1449 pounds.
21 karat, a record of 1690 pounds.
24 caliber, 1931 pounds.
The gold pound is 13,520 pounds.
Gold prices globally at the beginning of the week
Moved gold prices Yesterday, Monday, in a narrow range, as expectations of an increase in interest rates from the US Federal Reserve led to a reduction in non-yielding gold expectations, and gold rose by 0.18%, to currently trade at the level of $ 1844 an ounce, and despite gold being considered a hedge against rising inflation, but High interest rates hinder investment in it, according to gold Bullion
Recent strong economic data and Federal Reserve statements are likely to discourage traders from placing large bullish bets in anticipation of further interest rate hikes, and in the near term, gold may be slowly trading within a narrow range.
Recent economic data indicated the resilience of the US economy, rising consumer prices, rebounding producer prices, and a strong labor market, raising doubts about the Fed’s intention to maintain higher interest rates for a long period of time.
Last week, a number of Fed officials indicated that additional interest rate increases were needed to bring inflation down to the central bank’s 2% target.
Investors are currently awaiting the release of the minutes of the Federal Reserve’s latest policy meeting on Wednesday, and the US Federal Reserve is expected by money markets to raise benchmark interest rates above 5% by May, with projected rates peaking for July at 5.3%.
Investors will also focus on US January PCE data, which is due for release later this week and is the Fed’s preferred measure of inflation.