After the Fed's statements yesterday regarding the approaching pause in the cycle of raising interest rates, gold gained more strength during the past few hours, to rise strongly during these moments of trading, today, Thursday.
And the US Federal Reserve decided to raise interest rates by 25 basis points, yesterday, Wednesday, to rise to the level of 5.00%.
The Fed stated yesterday in its statement: that it will monitor the incoming information and evaluate the implications for monetary policy, we expect that some additional tightening policy may be appropriate in order to reach a sufficiently constraining position to return inflation to about 2%.
The bank's tone is different from previous statements, which indicated that continuous interest rate increases would be appropriate to control inflation.
Gold and the dollar now
Spot gold rose 0.5% at $1,948 an ounce.
While US gold futures rose 1.6% to 1981 dollars.
The dollar index fell 0.25%, to record 101.7 points.
