The world gold price continued to increase slightly with spot gold up 7.1 USD to 1,971.2 USD/ounce. Gold futures in August last traded at $1,972.5 per ounce, up $8.8 from dawn the day before.
Gold markets stabilized and reacted mildly after the US Federal Reserve (Fed) decided to raise interest rates by 25 basis points at its July meeting, paying the federal funds rate to between 5.25% and 5.25 basis points. 5.50%. US profit margins are now at a 22-year high. However, analysts noted that the latest monetary policy statement was essentially unchanged from last month's meeting when it continued to focus on the inclusion of the 2% target.
The Fed also emphasized that its future decisions will depend on the data. In the press conference after the central bank's decision to raise interest rates by 25 basis points, Fed Chairman Powell mentioned the possibility of continuing to raise or keep rates unchanged at the September meeting without mentioning a cut. at this year's meeting. He stressed that the Fed will consider cutting rates if there is more evidence to use rate cuts.