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Gold rises after the interest rate cut, but it may witness a weekly decline

Gold rises after the interest rate cut, but it may witness a weekly decline

Update prices

rose gold In spot transactions, it rose 0.1 percent to $2,708.89 per ounce (ounce) at 0024 GMT, but it fell about one percent since the beginning of the week.

Gold futures in the United States increased 0.4 percent to $2,716.4, according to Reuters data.

At the end of the two-day monetary policy meeting, the bank cut… American Central Bank Yesterday’s price Interest Overnight to the range of 4.50-4.75 percent.

Gold prices rose by more than one percent in the previous session, as it compensated for the losses it suffered after Donald Trump won the US presidential race.

Gold is a hedge against economic uncertainty, and its prices tend to rise in light of low interest rates.

As for other precious currencies, it decreased Silver In spot transactions, it rose 0.1 percent to $31.98 per ounce, while platinum rose 0.3 percent to $1,000.35, and palladium stabilized at $1,024.40.



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