The price of gold on Friday morning shows a decline under the pressure of a possible further increase in the base interest rate by the US Federal Reserve. The current price of the precious metal is $1928 per ounce. May silver futures fell to $24,660. Investors continue to evaluate the comments of the head of the Federal Reserve Bank of St. Louis, James Bullard, that the Fed is not yet completely controlling the inflation rate, so it is likely to raise the discount rate quite sharply. And as you know, an increase in the base interest rate is positive for the dollar and negative for gold. At the same time, it is worth noting that the precious metal is still holding above the level of $1,900 per troy ounce as a safe haven asset amid international tensions around Ukraine. «On the one hand, gold is supported by geopolitical risks around Ukraine, and on the other hand, the increasingly hawkish position of the Fed limits the growth of gold due to the inverse correlation with the dollar,» analysts say.
PAUTAN SEGERA
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