Written by Gina Lee
Investing.com – It rose in Asian trading Thursday morning to its highest level in more than a week. He did not provide a timetable for his tiered plans in his latest policy decision, adding that he was “far” from considering a rate hike.
It also rose 0.81% to $1,814.20 by 12:16AM ET (4:16AM GMT), after hitting its highest level since July 20 at 1,817.35 earlier. While it fell, which usually moves in a reverse direction with gold, on Thursday after hitting its lowest level in two weeks during the previous session.
The Federal Reserve issued its decision on Wednesday, making the tapering of assets on the agenda of the two-day FOMC meeting that preceded it.
However, Jerome Powell, that the US labor market still has some ground to cover before the Federal Reserve starts reducing its assets, although he did not give a specific timeline. It also downplayed the threat that the continued spread of COVID-19, and its delta variant globally, poses to the economic recovery of the United States.
In the Asia Pacific region, the Reserve Bank of Australia is expected to delay the planned asset writedown as it releases its policy decision the following week. The Reserve Bank of Australia had planned to start tapering off assets in September, with a review to follow a few months later. The central bank delay comes four weeks after plans were announced in the RBA’s latest policy decision, with an extended shutdown in Sydney expected to negatively impact the economic recovery.
On the COVID-19 front, the Centers for Disease Control and Prevention said Wednesday that 66.6% of US counties have transmission rates of COVID-19 high enough to warrant resuming indoor mask-wearing policies.
In terms of other precious metals, it rose 0.9 percent by 0.6 percent and platinum by 0.8 percent.
It appeared in these moments and came negative, as it recorded 400 thousand unemployment claims, while it was expected to record 380 thousand, and the previous statement had recorded an increase in unemployment rates that reached 419,000 claimants.
It also appeared and scored 6.5% actual and the estimate was to score 8.5%, which is significantly lower than the official estimate.
And at these moments, it is recording $1,826.24 an ounce, an increase of 1.09%, and gold has started to rise since yesterday, after the release and that it is not yet time to tighten its monetary policies.
In these moments, it recorded 91,965, down 0.352 by 0.38%, while the measure of the dollar’s strength against a basket of six foreign currencies recorded 92.03, down by 0.32%.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.