The Federal Reserve’s decision raises the price of gold
Today, Thursday, gold prices rose, with the dollar declining after the US Federal Reserve decided to keep interest rates low.
And gold rose in immediate trading 0.2% to 1784.26 dollars an ounce, by 05:38 GMT. While US gold futures rose 0.6% to 1784.40 dollars an ounce.
"Reuters" reported that the dollar index shed 0.1% against other major currencies, which enhances the appetite for gold for holders of other currencies.
The US Federal Reserve said yesterday, Wednesday, that “it is premature to think about retreating from its emergency support. At a time when many workers are still losing their jobs due to the pandemic.
And increased US President "Joe Biden" plan for a comprehensive package worth 1.8 trillion dollars for families and education, the appeal of gold.