Gold .. a jump in prices has not occurred in 4 years

<div id = "firstBodyDiv" data-bind-html-content-type = "article" data-bind-html-compile = "article.body" data-first-article-body = "

And gold jumped in immediate transactions 2.9 percent, to 1636.25 dollars an ounce in late trading session in American market.

The US gold futures rose 3.1 percent to settle at $ 1644.40 an ounce.

Earlier in the session he jumped yellow metal Up to 3.3 percent after the US Federal Reserve cut interest rates, In an urgent step to protect the world’s largest economy from the effects of the Coronavirus.

Daniel Galli, commodities expert at TD Securities, said: "The Federal Reserve has clearly sent a very strong signal that they are ready to support The American Economy In the face of the growing threat it poses The virusThis is a clear green light for other central banks to do the same".

Low interest rates reduce the opportunity cost of holding the yellow metal, which does not yield a return.

The precious metal was also supported by a drop The US dollar To the lowest level in about two months, in front of a basket of major currencies.

Gold prices fell by as much as 4.7 percent on Friday, amid a massive sales wave, but it has since recovered.

Among other precious metals, it decreased Palladium One percent to $ 2497.90 an ounce, while it rose Platinum 1.2 percent to $ 870.42 an ounce. Silver jumped 2.2 percent to $ 17.09 an ounce.

“>

And gold jumped in immediate transactions 2.9 percent, to 1636.25 dollars an ounce in late trading session in the American market.

The US gold futures rose 3.1 percent to settle at $ 1644.40 an ounce.

Earlier in the session, the yellow metal jumped as much as 3.3 percent after the US Federal Reserve cut interest rates, in an emergency move to protect the world’s largest economy from the effects of the Corona virus.

“The Federal Reserve has sent a very strong signal that they are ready to support the US economy in the face of the growing threat posed by the virus, and this is a clear green light for other central banks to do the same,” said Daniel Ghali, commodity expert at TD Securities.

Low interest rates reduce the opportunity cost of holding the yellow metal, which does not yield a return.

The precious metal was also supported by the drop in the US dollar to its lowest level in nearly two months, against a basket of major currencies.

Gold prices fell by as much as 4.7 percent on Friday, amid a massive sales wave, but it has since recovered.

Among other precious metals, palladium fell 1 percent to $ 2497.90 an ounce, while platinum rose 1.2 percent to $ 870.42 an ounce. Silver jumped 2.2 percent to $ 17.09 an ounce.

– .