Gold prices stabilizes after 1.5% jump

The price of gold rose slightly on Wednesday morning after it increased more than 1.5% the day before and crossed the mark of $2,000 per troy ounce, Report informs.

The price of June gold futures on the New York Comex exchange rose by a symbolic $1.75 (0.09%) to $2025.25 per troy ounce. July silver futures fell 0.34% to $25.535 an ounce.

The precious metal got 1.56% added to its value in Tuesday trading. According to experts, interest in this safe-haven asset has increased in anticipation of decisions by the US Federal Reserve System (Fed) and following the results of the "banking mini-crisis" in the country.

There are fears of a recession on the market after another US bank failed to overcome the crisis, and macro statistics show a slowdown in economic growth.

As for the Fed, almost 90% of analysts expect the discount rate to rise by another 0.25 percentage points, to 5.25%. The rest predict that the rate will remain at the current level. The regulator will announce its decision later on Wednesday.