Gold rose in spot transactions today, Thursday, with the decline of the dollar, but the statements of Jerome Powell, Chairman of the Federal Reserve (US Central Bank) regarding raising interest, limited the gains of the precious metal.
Gold in instant transactions rose 0.1 percent to $ 1815.58 an ounce, after reaching its lowest level in a week on Wednesday. There was little change in US gold futures contracts, and they remained at $ 1819.10 an ounce.
The dollar index retreated from its highest level in three months, which it reached yesterday, Wednesday, which makes the precious metal cheaper for buyers of other currency holders.
On Wednesday, Powell reiterated his message about raising interest rates at a higher and possibly faster pace, but indicated that the debate was still ongoing, and that the decision was contingent on data to be released before the Central Bank’s Policy Committee meeting in two weeks.