“Federal President’s Statements Move Gold Markets: Impact on Credit Activity and Interest Rates”

Investing.com – One word from the Fed chief prompted the rally.

Jerome Powell said that the Fed may not need to raise rates again due to the restrictions imposed on credit activity due to the banking crises facing the US banking sector.

Gold gains are now close to 0.90% in spot contracts, and record 1,974, close to the important previous support level at $1,975 an ounce.

And it records 1,976 dollars an ounce.

While the American loses to the level of 102.910, losing 0.51%, and rises by 0.49% to the level of 1.0822.

After this important statement, the markets are witnessing strong shifts in the interest future for the month of June, as futures traders reduce expectations of raising interest next month.

The rates now stand at 64.2% for stabilization, and 35.8% for raising interest rates by 25 basis points.