The price of gold increased Fars news

According to the report of the International Economic Group of Fars News Agency, quoted by Reuters, while investors are preparing themselves for a big interest rate increase by the US Central Bank to deal with the increase in the inflation rate, the price of gold rose slightly today.

Each ounce of gold was sold at $671.14, an increase of $6 and 25 cents. In the early hours of gold trading, it was fluctuating near the lowest figure in the last 2 and a half years.

The Central Bank of America will publish the bank’s decision today at 18:00 GMT after the press conference of the president of the bank, Jeremy Powell.

Since gold is considered as a safe source of investment against inflation, an increase in bank interest rates increases the cost of holding gold, which is an interest-free asset.

Gold Trust reserves, large the most Global gold investment funds fell 4.63 tonnes on Tuesday, the biggest drop since July 18.

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