Gold became expensive Fars news

According to the report of the International Economic Group of Fars News Agency, quoted by Reuters, with the decrease in the value of the dollar, the price of gold increased for the second session in a row.

This is while traders are waiting for the release of more economic statistics to assess the possible impact on the increase in US interest rates.

Gold was up $3.49 an ounce at $1,870.97.

While a weaker dollar has slightly boosted gold prices, higher prices require the release of weaker US economic data or a faster decline in inflation, which could ease fears of tighter monetary policy by the Federal Reserve.

The higher the interest rate, the higher the cost of holding gold, which is an interest-free asset.

The US central bank has recently raised the bank interest rate with a figure lower than the figure it had raised during the last year.

However, it seems that the price of gold will remain volatile until the release of the US consumer price index next week.

Federal Reserve Chairman Jerome Powell will speak at an event hosted by the Economic Club of Washington later today.

According to analysts, long-term concerns about slowing economic growth have also boosted demand for gold.

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