2023-07-18 19:10:54
Gold prices rose more than 1%, to their highest levels in more than a month, supported by the decline in the dollar and Treasury bond yields.
Gold rises in instant transactions to 1979.19 dollars an ounce
Gold prices rose today, Tuesday, by more than 1%, to their highest levels in more than a month, supported by the decline in the dollar and Treasury yields, as investors bet that the latest US economic data provides the argument for the Federal Reserve (the US Central Bank) to stop raising prices. interest rates.
Spot gold rose 1.3% to $1979.19 an ounce by 12:41 GMT, following hitting its highest level since late May, while US gold futures rose 1.5% to $1985.20.
The dollar index recorded its lowest level in more than a year, making gold less expensive for holders of other currencies, and US Treasury yields fell for the second day in a row.
In turn, Jim Wyckoff, chief market analyst at Kitco Metals, said that prices may fall to the $1,900 range if the central bank raises interest rates, although the data reinforces the idea of the central bank easing monetary tightening by the end of this year. year, something that would support gold.
As for other precious metals, silver in the spot market rose 0.9% to $25.07 an ounce, while platinum increased 0.8% to $983.54, and palladium jumped 2.9% to $1,321.94.
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