2023-11-24 03:29:02
Gold stabilized today, Friday, and is heading to achieve gains for the second week in a row, supported by the weakness of the dollar, with increasing market confidence that the Federal Reserve (the US central bank) has finished raising interest rates.
By 0205 GMT, gold settled in spot transactions at $1,992.46 per ounce. The yellow metal rose 0.7 percent this week. There was little change in US gold futures contracts, which recorded $1,993.40.
The dollar index fell 0.2 percent once morest its competitors and is heading towards recording its second weekly decline, which makes gold lower
Benchmark 10-year US Treasury bond yields rose to 4.4568 percent.
Markets reduced their expectations for lower interest rates in 2024 following data showed that the number of Americans filing new applications for unemployment benefits fell more than expected last week.
As for other precious metals, silver rose in spot transactions 0.1 percent to $23.69 per ounce, palladium increased 0.4 percent to $1,049.55, and platinum stabilized at $915.57, but is heading for a second weekly rise.
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