Gold rebounds and the dollar declines after the Federal Reserve announced an interest rate cut #Urgent
Gold prices rebounded today, Thursday, supported by the decline in the dollar and a reduction in interest rates by the Bank Other precious metalsdeclined Silverin spot transactions rose 0.2% to $47.48 per ounce, platinum gained 0.6% to $1,595.20, and palladium rose 0.9% to $1,413.43.
Meanwhile, the dollar index fell 0.2%, after hitting a two-week high against its rivals in the previous session, making gold less expensive for holders of other currencies.
Yesterday, Wednesday, the US Federal Reserve reduced the overnight lending rate by a quarter of a percentage point, or 25 basis points, to the level of 3.75% – 4%, according to expectations, and will end the process of restructuring the balance sheet in December.
The interest cut by 0.25% came with a majority of 10 votes against two votes against, as Governor Stephen Meiran requested an interest cut of 0.50%, while St. Louis Federal Reserve Bank President Jeffrey Schmid preferred not to. Interest rate reduction.
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