The gold markets are waiting for the decision of the Federal Reserve Board, the “US central bank”, on the fate of the interest rate, because of its direct impact on the markets, as the US central bank will issue its decision next Wednesday.
The price of gold in spot contracts, peaked early in today’s trading, on Thursday at 1933 dollars per ounce, while it recorded a decline before the opening of the Wall Street exchange and after some related news.
The price of gold fell today, after the European Central Bank announced its decision on monetary policy, to stabilize, as widely expected, as policymakers stopped raising the interest rate after ten consecutive increases.
President Christine Lagarde explained that the decision was made unanimously, and the discussion of interest rate cuts is not on the table at the moment, and they noted that they cannot confirm that interest rates will not be higher than their current levels.
