Gold prices rose Thursday April 29th, as the dollar fell after the US Federal Reserve decided to keep interest rates low for the foreseeable future, despite adopting a brighter view of the economic recovery.<\/p>\n\n\n\n
And gold rose in immediate trading 0.2% to 1784.26 dollars an ounce. US gold futures rose 0.6% to $ 1784.40 an ounce.<\/p>\n\n\n\n
The dollar index fell 0.1% against other major currencies, which strengthens the appetite for gold for holders of other currencies.<\/p>\n\n\n\n
On Wednesday, the Fed had said that it was too early to consider withdrawing its emergency support at a time when many workers are still losing their jobs due to the pandemic.<\/p>\n\n\n\n
Adding to the appeal of gold is US President Joe Biden’s plan for a comprehensive package of $1.8 trillion for families and education, which he unveiled in his first speeches in Congress.<\/p>\n\n\n\n
This gold tends to benefit from large-scale stimulus measures because it is considered a hedge against inflation.<\/p>\n\n\n\n
As for the other precious metals, palladium rose 0.7% to $2,947.96 an ounce, after hitting an all-time high of $ 1962.50 on Tuesday.<\/p>\n\n\n\n
Platinum rose 0.2% to $ 1221.76, and silver gained 0.8% to $ 26.38 an ounce.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose Thursday April 29th, as the dollar fell after the US Federal Reserve decided to keep interest rates low for the foreseeable future, despite adopting a brighter view of the economic recovery. And gold rose in immediate trading 0.2% to 1784.26 dollars an ounce. US gold futures rose 0.6% to $ 1784.40 an …<\/p>\n","protected":false},"author":9,"featured_media":32631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-45143","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=45143"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45143\/revisions"}],"predecessor-version":[{"id":45144,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45143\/revisions\/45144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32631"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=45143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=45143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=45143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}