Africa-Press – Eritrea. The ounce price of gold reached $3,360 as of 2020GMT, up 2.13%, amid the tension in the US related to resignation in the Fed and Trump’s order for the dismissal of the expert in charge of the Labor Department’s statistics division.
Following the Fed’s decision Wednesday to keep its policy rate unchanged, US President Trump ramped up his criticism of Powell, urging the Fed board to “assume control.”
On Friday, two Fed officials issued statements to explain the reasons for voting to cut interest rates at this week’s meeting, and Adriana D. Kugler, a member of the board of the US Federal Reserve, submitted her resignation.
As well, Trump said Friday that he has ordered the dismissal of the expert in charge of the Labor Department’s statistics division after the agency’s data showed that job growth has been reduced to a crawl.
Trump claimed that the most recent job figures released by the Bureau of Labor Statistics were “rigged” and politically motivated.
The gold price, which eased in the recent period, reached a historical high level, exceeding $3,430 in July.
The price of silver also rose by 0.7% to $37 per ounce on Friday.
Meanwhile, the US stock markets closed the week with huge losses.
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