and raise US Federal Interest rates by 50 basis points, bringing the interest rate to a range between 4.25 percent and 4.5 percent.
This was the seventh consecutive time that the US Federal Reserve raised interest rates during the current year 2022.
price movements
Prices of the yellow metal fell by 0.3 percent over the past week, despite its rise in spot transactions by 0.8 percent to $ 1791.59 an ounce in Friday trading.
US gold futures rose 0.7 percent to $1,800.20.
pointed out European Central Bank AndBank of England Central to similar strategies to raise interest rates.
Commerzbank expects gold to decline to about $1,750 an ounce until the end of the US interest rate hike cycle becomes clear, and prices are expected to rise to $1,850 by the end of 2023.
Prices fell Silver By 1.3 percent during the week, but it rose by 0.4 percent in Friday trading, to reach $23.14 an ounce.
Platinum lost 1.4% to $992.43, and palladium fell 4.3% to $1,713.81.
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and raise Federal ReserveOn Wednesday, the interest rate rose 50 basis points as expected, and Jerome Powell, Chairman of the Board, said that the US central bank will continue to raise interest rates next year, despite the exacerbation of recession fears.
and raise US Federal Interest rates by 50 basis points, bringing the interest rate to a range between 4.25 percent and 4.5 percent.
This was the seventh consecutive time that the US Federal Reserve raised interest rates during the current year 2022.
price movements
Prices of the yellow metal fell by 0.3 percent over the past week, despite its rise in spot transactions by 0.8 percent to $ 1791.59 an ounce in Friday trading.
US gold futures rose 0.7 percent to $1,800.20.
pointed out European Central Bank AndBank of England Central to similar strategies to raise interest rates.
Commerzbank expects gold to decline to about $1,750 an ounce until the end of the US interest rate hike cycle becomes clear, and prices are expected to rise to $1,850 by the end of 2023.
Prices fell Silver By 1.3 percent during the week, but it rose by 0.4 percent in Friday trading, to reach $23.14 an ounce.
Platinum lost 1.4% to $992.43, and palladium fell 4.3% to $1,713.81.