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24 October 2022 | Other

Gold grows because of weakening US dollar

Gold

Information about the possible debates between US Fed representatives concerning the increased rates provoked the weakening of the currency. At this time, the gold prices were growing during the week.

The WSJ posted that FRS prepares to increase the rate again by 0.75 percentage points in November. At this time, some Federal Reserve System members declared that it is necessary to slow down the pace of hikes. 

Gold is quite sensitive to the growing credit rates. Because of this, many start to consider other investment options, as holding bullion ceases to bring the expected return.

According to the main trader of US Global Investors Michael Matousek, the demand for gold rose when its price fell to a minimum.  



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