On Friday, the gold price is showing consistency but it has confronted most of the losses it encountered in the last session of five months.
It is important that five months ago U.S interest rates were increased for the first time after a decade and this precious yellow metal showed its biggest downfall in the previous five months. Increase in the U.S interest rates boosted up the Federal Reserve in the U.S Central Bank with a handsome amount. This mechanism raised the U.S dollars but reflected a negative impact on gold. After decline of 2 percent since July 2015 in the previous five month session, the gold price rose at 0.5 percent with the transaction rate of 1056.25 U.S dollars per ounce.
On Thursday, the U.S dollars exchange rate increased significantly to its highest level in the last two weeks against a number of major international currencies, but it gave up some of its improvement on Friday. It resulted in the touching down of gold at its lowest level in the last five years at 1047.25 U.S dollars per ounce in its previous session. Since the beginning of 2015, the price of gold dropped at 11 percent. Yesterday, the silver price fell at 3 percent and it was considered a massive one-day drop in last three months, but it also rose at 0.7 percent to 13.80 U.S dollars per ounce. The Platinum also suffered big losses in the year 2015 and it rose 0.1 percent to 822.45 U.S dollars per ounce, the Palladium fell at 0.6 percent to 550 U.S dollars per ounce.