Gold closed the week rose thanks to the Fed

Despite yesterday but fell in the whole week, the gold price has increased 0.4%, mainly due to the statement of the Federal Reserve to keep interest rates.


After a 5-month lows, the dollar gradually regain stability while increasing 0.3% compared to the main currencies. This also dragged gold prices fell slightly in the US session yesterday. Per ounce for immediate delivery fell 0.31% to close at $ 1,255. Spot gold was down 0.8% future. Meanwhile, the domestic market yesterday closed at 33.7 to 33.78 million dong per tael.

Even so, the whole week, spot gold per ounce has increased by 0.4%. "Since the US Federal Reserve (Fed) statement does not raise interest rates, gold prices have jumped," Phillip Streible - senior commodity brokerage of R.J. O'Brien in Chicago said. "The way the gold price to rise again then obviously much more powerful compared to the reaction of the market when the European Central Bank made a similar statement. We will probably have to see State securities of further decline. "

The dollar strengthened yesterday but the whole week but still down 1.2% against the major currencies and has at times to near 17-week low against the yen.

The Fed announced to keep interest rates but the recent announcement by the agency shows that they want to increase 0.5 percentage points at the end of this year.

Thanh Thanh Lan


 


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