Gold retracts after the federal reserve decision to install interest

Prices have declined gold By more than 1%, during yesterday, Wednesday, after a decision of the American Federal Reserve to install interest rates, and his lack of permission to reduce them.

And it decreased Gold pricesIn instant transactions, by 1.5% to 3275.92 US dollars per ounce, by 19:08 GMT.

US gold futures fell 0.8% to $ 3352.8 upon settlement.

The Federal Reserve Chairman, Jerome Powell, said that the federal did not make any decision on interest rates in September, the date that many observers’ expectations indicate the first reduction of interest rates in 2025.

Powell added that “the negative risks of the labor market are undoubtedly clear.”

A report by the US Department of Commerce also stated that the US GDP, during the second quarter, registered a growth rate of 3%, which exceeded the expectations of 2.4%, in a Reuters poll.

As for other minerals, silver prices, in instant transactions, decreased by 3.2%, to $ 36.97 an ounce, low to their lowest levels in 3 weeks, and platinum prices also fell by 6.6%, to 1303.19 dollars to its lowest level since June 24, and palladium decreased by 4.9%, to 1196.75 dollars.

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