Sunday , September 25 2022

Gold slows down the rate of decline after saving the Fed | rate Industry


MOSCOW, November 8 / PRIME /. The price of gold began to decline slower after the US Federal Reserve's savings rate, according to the auction data.

From 22.17 Moscow time, the price of December's gold futures on the New York Stock Exchange Comex dropped by $ 0.6 or 0.04% to $ 1225.6 per ounce. The cost of silver futures in December fell by 0.67% – to $ 14.43 per ounce. Prior to the publication of the Fed's decision, gold was 0.11% cheaper and silver 0.71%.

Following the November 7-8 meeting, the Federal Reserve maintained the base interest rate at 2-2.25% per annum. The decision coincided with analysts' forecasts.

The Fed in a press release after the meeting has traditionally noted the continued strengthening of the labor market and the high growth rates of economic activity in the United States. The regulator also positively assessed the active rise in household spending and recorded a slight slowdown in investment in commercial operations.

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