TNT:
CandyKisses: Gold makes third consecutive weekly gain
llow-up – Mawazine News
Gold prices rose, at the end of the week, achieving the third Straight weekly gains, after US jobs report reduced concerns about Raising interest rates in America.
The price of gold at settlement, about 1865.69 dollars per ounce, up about 2.3 percent for the week.
U.S. jobs data showed that Employers added 223,000 jobs in December, more than experts had expected. Wages grew slightly less than expected.
Federal Reserve Fund futures traders boosted Their bets that the Fed will raise interest rates by 25 basis points at the end of its meeting which lasts two days on the first of February after the release of jobs data.
The Federal Reserve raised interest rates by 50 basis points in Its December meeting, after four consecutive increases of 75 basis points.
A few U.S. central bank officials confirmed Thursday past their commitment to fight to bring inflation down to the target of two percent, But St. Louis Federal Reserve Chairman James Bullard said 2023 had There has finally been some relief in the fight against inflation.
High interest rates reduce the metal’s attractiveness. Yellow represents a hedge against inflation but does not generate a return.
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