The precious metal reversed to hot after the US Federal Reserve (FED) left open the possibility of two more interest rate hikes this year. Accordingly, the Fed kept interest rates unchanged at 5 - 5.25%. This is the first time this bank has suspended interest rate hikes after 10 consecutive increases since March 2022 until now.
This move has made experts even more optimistic about gold with the forecast that the price will rise above $ 2,000 / ounce in a sustainable way.