Gold increases amid USD instability
The US dollar fell 0.2% against other currencies following US economic data earlier in the day, making gold more attractive to holders of other currencies. "Gold and silver are rallying amid worries," said Tai Wong, an independent metals trader based in New York. "Gold is often used as a safe store of value during times of uncertainty. period of political and financial instability"
Market participants are now expecting more clarity on the interest rate outlook from the US Federal Reserve at its policy meeting next week. It is expected that the central bank will maintain current interest rates without change.
Market participants are now expecting more clarity on the interest rate outlook from the US Federal Reserve at its policy meeting next week. It is expected that the central bank will maintain current interest rates without change.
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