Saturday, March 2, 2024

Between the fall of the dollar … Gold prices rise before the US inflation figures come out

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Yellow metal saw gains after the dollar depreciated against the dollar on Thursday, but rising US Treasury yields, expectations of inflation and the Federal Reserve meeting limited the rise in non-performing metals.
Sharjah 24 – Reuters:

Gold prices were supported by the fall of the dollar on Thursday, but higher yields on US Treasury bonds, expectations of US inflation data and the Federal Reserve meeting limited the rise in non-performing metals.

Gold in spot trading rose 0.2% to $ 1785.78 during 0516 GMT, while US contracts traded at $ 1786.30.

The dollar index is nearing its lowest level since December 2, which was recorded in the previous session, which will keep gold at a lower price for buyers of other currencies.

The price of gold has been hovering between $ 1760 and $ 1790 an ounce since it fell below the $ 1800 support level last month, while investors are cautiously underestimating when the Federal Reserve (US Federal Reserve) cuts its stimulus. Activities.

Investors’ attention now turns to US CPI data on Friday, which could affect the Federal Reserve’s decision for the December 14-15 meeting.

Among other precious metals, silver rose 0.1% to $ 22.43 an ounce in spot trading. Platinum was down 0.1 percent at $ 955.98 and Palladium was up 0.7 percent at $ 1862.90.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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