June 7, 2023

Dubai Week

Complete Dubai News World

Gold persists under the pressure of higher bond yields

Gold persists under the pressure of higher bond yields

Before US data

Thursday – 10th Al-Qaeda 1443 AH – 09 June 2022 AD

New York: “Middle East Online”

Gold prices stabilized on Thursday as key data on jobs and inflation in the United States stopped rising Federal Reserve roadmap before raising interest rates to combat inflation.
Gold settled at $ 1853.24 an ounce at 03:03 GMT on spot trading, according to Reuters news agency.
US weekly unemployment claim data will be released today at 12:30 GMT.
“Uncertainty currently holds gold in a range, but this trend has been clearly down since April,” said Michael Langford, director of corporate consulting firm Air Guide.
Investors are waiting for the monthly US consumer price data tomorrow (Friday); The White House said it would be “too much”.
Economists polled by Reuters expect the annual inflation rate to be 8.3 percent.
Decades of U.S. Treasury yields increased, while zero-yielding yellow metal controlled the allure.
Among other precious metals, silver was up 0.2 percent at $ 22.07 an ounce and platinum was down 0.3 percent at $ 1,003.46.
Palladium rose 0.9 percent to $ 1960.94, hitting a three-week low of $ 1930.28 yesterday (Wednesday).



See also  Japan's exports grew at the fastest pace in two years in April