Gold Price Rises as Dollar Value Falls | New
According to the report released Monday by the US Federal Reserve (Fed), the price of pot gold rose 0.03%, or $771 more per ounce. Meanwhile, the value of the dollar has fallen on the international market.
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The Fed Gold characteristic recorded in the United States shows an increase of 0.4%, which means $1,789 per ounce.
The Fed also reported that other precious metals rose in value, such as silver at $20.40, platinum at $904.42 and palladium at $2,161.97.
On the other hand, the US bank reported that the US dollar index fell by 0.4%, which at the time meant that gold became cheaper for foreign investors; otherwise, investors are waiting for economic analyzes indicating the pace of interest rate increases.
The slowdown in the US economy in the second quarter of the year and the decline in the movement of the euro paved the way for the emergence of gold.