After reaching a historical peak .. gold is retreating

The price of gold decreased today, with investors reaping profits after he recorded a high record in the previous session, while the markets were affected by the statements of the Federal Reserve Chairman (the Amir Central Bank) Jerome Powell cautious about possible interest rates.

Gold fell in instant transactions 0.3 percent to $ 3753.22 an ounce, at 02:24 GMT. He recorded his highest level ever at 3790.82 dollars on Tuesday.

US gold futures decreased December delivery 0.8 percent to $ 3785.90.

Powell said yesterday that the central bank must continue to balance the competing risks of high inflation and the weak labor market when making the upcoming interest rate decisions.

The chief market analyst in Uanda Kelvin Wong said that gold is currently affected by technical indicators at the height of purchase, which led to profits, and with Powell balanced speech, which lacked clear hints about raising interest rates in the future.

“We may witness a slight decrease in gold prices today. However, medium and short -term trends still support expectations for price rise,” Wong added.

The weekly weekly unemployment requests report is scheduled to be issued for the first time in the United States tomorrow, Thursday, followed by the Personal Consumption Expenditure Index, which is the preferred scale of inflation in the Federal Reserve, on Friday.

The CMG Group indicates that the markets expect two additional interest rates each each, this year, with a possibility of 93 percent in October and 77 percent in December.

Meanwhile, NATO warned Russia on Tuesday that it would use “all the necessary military and non -military tools” to defend himself, as US President Donald Trump changed the tone of his speech, stressing that Ukraine is able to restore all the lands occupied by Russia.

For other precious metals, the price of silver in instant transactions decreased 0.7 percent to $ 43.72 an ounce, platinum fell 0.2 percent to $ 1475.78, and palladium fell 0.1 percent to 1218.54 dollars.