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DirectGold prices exacerbated global losses of more than $ 22 on Thursday, as the US dollar rose sharply after the Fed reduced investors' hopes for monetary easing.
The Fed yesterday decided to implement its first interest rate reduction since the global financial crisis of 25 basis points, between 2% and 2.25%.
However, Fed Chairman Jerome Powell said the decision aimed to adjust monetary policy at mid-term, indicating that there would probably be no further rate cuts in the period to come.
US President Donald Trump commented on the decision to cut interest rates by saying that Powell had failed in the markets. "As usual, we failed at Powell, but at least he ended the quantitative tightening, which should not have started at all."
In the course of trade negotiations between China and the United States, the two countries have decided to resume trade negotiations next month. The White House confirmed that this week's negotiations had been fruitful and that many issues had been debated.
Later in the day, the ISM industrial production index in the United States is expected to be released later in the day, as well as data on construction spending and job applications.
At 11:59 GMT, the price of gold futures for December delivery fell 1.6%, or 22.40 USD, to 1415.40 USD an ounce.
The spot gold metal delivery price fell 0.6%, or $ 9, to settle at $ 1404.85 an ounce, its lowest level since July 17th.
During this period, the leading dollar index, which measures the currency's performance against six major currencies, rose 0.4% to 98,877.
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