Gold is close to the highest level

Gold approached its highest record today, with investors awaiting a series of letters of federal reserve officials (the US Central Bank) and inflation data this week, after the central bank reduced interest rates last week and indicated that more reduction occurred.

Gold in instant transactions increased by 0.1 percent to $ 3688.76 an ounce by 02:17 GMT, after he recorded a record level at $ 3707.40 last Wednesday.

US gold futures for December delivery rose 0.5 percent to $ 3723.70.

“Gold has returned to approaching the level of $ 3700, and we may witness new levels this week if the US macroeconomic data continues to give signals that allow the Federal Reserve to continue to reduce more interest,” said KCM Test, Tim Water.

The markets are currently focusing on the issuance of the basic personal consumption expenditures index on Friday. The indicator is the preferred scale of the Federal Reserve to measure inflation.

“A mixture of the federal reserve position on monetary facilitation (interest reduction) and the constant demand from central banks gives momentum in favor of gold,” Waterler added.

Gold, which often benefits from low interest rates, has increased by more than 40 percent since the beginning of the year, driven by the state of geopolitical and economic uncertainty and the purchases of central banks and cash facilitation.

Silver in instant transactions increased by 0.3 percent to $ 43.20 an ounce, approaching the highest level in 14 years. While platinum fell 0.4 percent to $ 1398.40, and palladium rose 0.1 percent to 1150.75 dollars.