International media have reported that with the increase in inflation in America and the rise in the value of the dollar, the price of gold has reached its lowest level in the last month.
Publish dateTuesday 15 August 2023 - 08:44
Story Code : 274860
Afghan Voice Agency (AVA): American media have reported that the increase in inflation in the United States has increased the concern about the continuation of the high interest rate policy and has caused the value of the dollar to rise.
According to Iran Press and quoted by Reuters news agency, the price of gold has reached its lowest level in the last month. The price of gold per ounce today decreased by 0.07% to 1912 dollars and 40 cents.
According to the American economic data published last week, it showed that the inflation in this country has increased in July despite the steady decrease in the past months.
In this way, the concern about the continuation of the central bank's interest rate increase to curb inflation has increased. The value of the dollar has reached the highest value in the past month and has made buying gold more expensive for the holders of other currencies in the world. According to the American economic data published on Friday, the producer price index in this country increased more than expected in July.
A day before that, it was announced that the consumer price index in America has also increased in July. Rising interest rates increase the cost of holding gold as a non-profitable capital and lowers the desire to buy it.
It is also said that this policy has hit gold hard during the last year (2022). Among other precious metals, silver was down 0.41% at $22.65 and platinum was down 0.56% at $910.97.
According to Iran Press and quoted by Reuters news agency, the price of gold has reached its lowest level in the last month. The price of gold per ounce today decreased by 0.07% to 1912 dollars and 40 cents.
According to the American economic data published last week, it showed that the inflation in this country has increased in July despite the steady decrease in the past months.
In this way, the concern about the continuation of the central bank's interest rate increase to curb inflation has increased. The value of the dollar has reached the highest value in the past month and has made buying gold more expensive for the holders of other currencies in the world. According to the American economic data published on Friday, the producer price index in this country increased more than expected in July.
A day before that, it was announced that the consumer price index in America has also increased in July. Rising interest rates increase the cost of holding gold as a non-profitable capital and lowers the desire to buy it.
It is also said that this policy has hit gold hard during the last year (2022). Among other precious metals, silver was down 0.41% at $22.65 and platinum was down 0.56% at $910.97.
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