A.S.
Gold prices rose during the Asian dealings today, supported by the retreat of the United States dollar, at a time when investors assess the impact of temporary calm in geopolitical tensions in the Middle East, with the expectation of the United States Federal Reserve Council meeting scheduled for this week.
The price of gold in instant transactions increased by 1% to $409.50 for condoms, while the United States gold forward contracts rose by 0.6% to $496.60 for condoms, after the precious metal recorded gains of approximately 1% over the past week, in the midst of fluctuating trades.
Gold gains coincided with the decline of the United States dollar index of 0.3%, which enhanced the attractiveness of yellow metal to other currency holders, and reduced crude oil prices following the suspension of military strikes by the United States and Iran during the weekend.
U.S. President Donald Trump had announced a moratorium on the bombing campaign on Iranian targets late in Friday evening, to allow diplomatic efforts, while Iran had refrained from carrying out retaliatory attacks against neighbouring States hosting United States military bases.
On the other hand, oil prices fell by more than 5% in early dealings today, reversing part of their gains made last week by fears of disruption of supplies across the Harms Strait and the Red Sea.
Investors look forward to the United States Federal Reserve Board meeting scheduled after tomorrow, amid wide expectations that interest rates will be kept unchanged, with markets focusing on the statements of President Kevin Warsh of the Council, to develop indicators on the timing of future interest rate reductions, and the Central Bank ' s assessment of the risks of inflation and prospects of the American economy.
It is also expected that a series of United States economic data, including inflation and labour market indicators, will be released to oversee the course of monetary policy during the coming period.
In other precious metals, the silver price rose by 2% to $59.37 for condoms, while the Platinum increased by 1.6% for $1618.83 for condoms.
