The US Fed has kept rates for the third time in the row as the price of gold; 2% bitcoin

Gold prices fell after the US Federal Reserve declared a status quo at benchmark lending rates. The bullion, which was already under pressure during the day, traded about 1.4% less after the disclosure of the Fed decision.

Spot Gold was trading at $ 3,388 an ounce in the global market, which was 1.32% below at 2:30 pm (EST). On New York -based Commodities Exchange Inc., the futures of the metal were trading at $ 1.34% less $ 3,376.9 an ounce.

The Fed placed unchanged major interest rates in an area of ​​4.25% to 4.5% for the third time in a row.

Gold prices usually appear to be an optic in terms of reducing borrowing rates, as the metal is seen as a top rescue against inflation – the demand accelerates the demand between low interest rates.

Meanwhile, Bitcoin received the world’s largest business cryptocurrency, which was trading 2.24% more at 96,811.57 at 2:30 pm (EST). The possibility of abetment was inspired by the uncertainty of the Fed on the economic approach.

Unlike traditional investment assets such as bonds and saving, cryptocurrency finds more appeal between a period of uncertainty.

The Federal Open Market Committee said in its statement, “There has been further increase in uncertainty about the economic approach”. This pointed to mixed signals that have emerged from the economy in the recent period.

The US economy has demonstrated both strength and weakness. Even in January-March quarters, GDP declined by 0.3% on an annual basis, the recession was mainly motivated by an increase in imports before kicking tariffs in April.

In addition, employment data showed the flexibility of the US economy, with non-agricultural payroll data in April, in addition to 177,000 jobs, more than estimates. A strong job decomposes the fed to reduce market borrowing rates.

“Although swings in net exports have affected data, recent indicators suggest that economic activity continued to expand at a concrete speed,” FOMC said. The unemployment rate in recent months is “stable at low level”, and the state of the labor market remains “solid”, saying that inflation is somewhat high.