After rising more than 2% in pre-trade, gold prices continued their gains and returned today as the dollar strengthened ahead of the release of a key inflation report that could give further indications about US interest rate trends.
Spot gold prices rose 0.83%, or $40, to $5,018.05 an ounce, after rising 2.1% in the previous session.
good performance
The dollar hit its highest level in more than a week, making the precious metals it contains more expensive for holders of other currencies.
Investors are awaiting the weekly report on jobless claims due later today and data on personal consumption spending, the Federal Reserve’s preferred measure of inflation, due tomorrow. Obtain further hints about the direction of monetary policy.
Low-yielding gold typically performs well when interest rates are low.
Silver → $76.83
Gold rose over 2% yesterday. Demands for safe havens increased after two days of peace talks between Ukraine and Russia in Geneva ended without any progress.
As for other precious metals, silver fell 0.5% to $76.83 an ounce in spot trading, after falling more than 5% yesterday.
In spot trading, platinum fell 0.1% to $2,069.35 an ounce, while palladium fell 0.5% to $1,707.53 an ounce.
Gold prices continued to rise today after rising more than 2% in the previous session, as the dollar strengthened ahead of an important inflation report that could provide further hints about US interest rate trends.
Spot gold prices rose 0.83%, or $40, to $5,018.05 per ounce, following a previous 2.1% rise.
good performance
The dollar hit its highest level in nearly a week, increasing the price of precious metals priced into the dollar for holders of other currencies.
Investors are awaiting the weekly report on jobless claims, due later today, and consumer spending data, the Federal Reserve’s preferred inflation indicator, due tomorrow. To gain further insight into the path of monetary policy.
Although gold does not produce returns, it typically performs well when interest rates are low.
Silver: $76.83
Gold rose more than 2% yesterday on demand for safe havens after two days of peace talks between Ukraine and Russia in Geneva ended without any progress.
As for other precious metals, silver fell 0.5% in spot trading to $76.83 an ounce, after falling more than 5% yesterday.
In spot trading, platinum fell 0.1% to $2,069.35 an ounce and palladium fell 0.5% to $1,707.53.
