In the wake of the first rate cut Of the year decided by the American Federal Reserve (Fed), there are gold prices increased slightly on Friday. They are heading for a fifth rise consecutive weekly.

At 08:17 GMT, spot gold gained 0.2% at $3,650.89 per ounce. Over the week, the precious metal posted an increase of 0.2%. American gold futures for delivery in December took 0.1% to $3,683.40.

“The outlook for monetary policy of the Fed remain the main driver for gold lovers, even if the metal valuable benefits from considerable support from central bank purchases and the demand for safe haven; any drop below $3,600 should be short term”, analyzes Han Tan, chief market analyst at Nemo.money.

On Wednesday, the Fed cut its rate director of 25 basis points and opened the door to new relaxations, while tempering his message with warnings on a persistent inflation, thus casting doubt on the pace of future rate cuts

Fed Chairman Jerome Powell has Described this measure as a reduction in the risk management rate in the face of a market work is losing momentum, adding that the central bank would adopt a “meeting-by-meeting” approach to rate trends.

The yellow metal, which does not generate yield and tends to perform well in a context of low interest rates, has reached a record high of $3,707.40 on Wednesday and posted an increase of around 39% since the beginning of the year.

Elsewhere, cash was on the rise by 0.8% to $42.12 per ounce, platinum gained 0.2% to $1,386.65, while the palladium fell by 0.4% to $1,146.43. The three metals were oriented towards a weekly loss.