direct: Gold prices rose at the settlement of trading on Wednesday, with stock losses and following the statements of the US Federal President.
The yellow metal gains came for the second consecutive session with a significant decline in US stocks during trading, where “Dow Jones” lost more than 500 points.
He stated Federal President Jerome Powell said the bank was considering additional measures to support the economy with continued uncertainty about the Corona virus, while ruling out resorting to lowering the interest rate to the negative range.
President Donald Trump urged the US central bank yesterday to adopt negative interest rates.
Gold has benefited from the beginning of the year from massive stimulus measures and economic uncertainty due to the Corona crisis, with central banks and governments already launching stimulus packages worth $ 15 trillion.
And investors fear that a new wave of Corona virus could deepen the global economy.
Today’s economic data revealed US producer prices fell At the fastest pace in 11 years in the past month.
Upon settlement, the price of gold futures for June delivery rose by 0.6 percent at $ 1716.40 an ounce.
By 5:55 p.m. GMT, the immediate delivery price for the precious metal increased by 0.5 percent, to $ 1711.33 an ounce.
During the same time, the main index of the US dollar, which follows the performance of the green currency, against 6 major currencies, rose by about 0.3 percent at 100.194.