If Fed keeps on raising interest rates, it will increase gold prices

10:29 - 12.04.2023

April 12, Fineko/abc.az. While a gram of gold exceeded 120 manats after an uptrend of an ounce of gold on the international market, a quarter of gold is traded at the price of 200 manats.

ABC.AZ reports that Isa Varlik, the head of the Chamber of Jewelers of Mersin, who advises citizens who will buy and sell gold because of due to the rise in gold prices, said:

"Gold is a long-term haven. I don’t recommend citizens to buy and sell, because it is unclear what gold will bring in the short-term prospect."

The fact that the US Federal Reserve System (FRS) continues to raise interest rates will lead to an increase in gold prices and fluctuations in world markets.