A slight increase in gold prices to federal warnings about inflation

Gold rose slightly after the decline in the previous session, a decline that came after Federal Reserve chairman Jerome Powell warned about the dangers of inflation in the US economy. The alloys circulated in the early trading in Asia near the $ 3.380 per ounce level, after falling 0.6% on Wednesday. Although the Federal Reserve kept interest rates unchanged, and policymakers kept their expectations to make two interests before the end of the year, Powell said the Federal Open Market Committee still expects customs duties to reflect in the final prices. The Federal also published its new economic expectations, the first since President Donald Trump unveiled an extensive package of customs duties in April, showing expectations of poorer growth, higher inflation and decrease in employment during this year. A significant increase in consumer prices can combat any tendency of cash facility, which is a negative gold, as it is not benefit. Geopolitical tension supports prices, but gold is still supported by continuous tension in the Middle East. Trump said Iran missed the opportunity to reach an agreement on its nuclear program, but it made no commitment whether the United States would join the Israeli attack. The increasing geopolitical tension, in addition to the state of economic uncertainty, has contributed to improving the demand for gold, especially in light of strong purchases of central banks and motivated to the revamped indicators, which have asked that the precious metal rise by about 30% since the beginning of the year. Immediate gold rose 0.3% to $ 3,378.59 per ounce at 8:21 p.m. Singapore time. The Bloomberg index of the dollar did not see a significant change. Silver remained stable, while platinum and Badium recorded profits.