gold
Gold prices rose, on Wednesday, as a slight decline in the dollar and US Treasury bond yields helped the yellow metal to stabilize near the key level of $ 1900, as investors await indications from major central bankers regarding the path of interest rates.
And by 0324 GMT, spot gold rose 0.1 percent to $ 1900.09 an ounce, far from its lowest level in five months, which it recorded last week. US gold futures rose 0.1 percent to $1,928.60.
The dollar index fell from its highest level in two months, while the rise that took US Treasury yields to their highest levels in nearly 16 years stopped, which provided some support for non-returnable gold.
The annual Jackson Hole symposium of central banks in Wyoming later in the week will be closely watched for any hints of a rate hike, with a particular focus on US Federal Reserve Chairman Jerome Powell’s speech on Friday.
Recently, strong US economic data has increased bets that the central bank will keep interest rates high for longer, thus reducing the attractiveness of gold.
As for other precious metals, silver increased in spot transactions by 0.4 percent to $ 23.49 an ounce, and platinum rose 0.1 percent to $ 920.04, while palladium settled at $ 1,260.23.
#gold
#Central Banks
2023-08-23 06:10:52
#Gold #rises #dollars #anticipation #meeting #central #banks
