gold
Gold prices rose after briefly paring gains on Thursday, as data showed a tight labor market in the United States, with focus now turning to a group of US Federal Reserve spokespeople for signals on raising interest rates.
Spot gold rose 0.1% to $1918.68 an ounce, after touching its lowest level in a week, on Wednesday, while US gold futures contracts fell 0.1% to $1942.50.
Gold prices rose despite the rise of the dollar, but the drop in US Treasury yields for 10 years below the two-week peak that was recorded in the previous session provided some support for bullion.
According to CME Group’s Fed Watch service, traders believe by 93 percent that the US central bank will keep current interest rates unchanged during its September 19-20 meeting.
Investors will closely monitor the statements of the heads of the Federal Reserve Banks in the US states today.
Data issued by the US Central Bank, on Wednesday, showed that the US economy recorded “modest” growth over the past weeks, amid slowing job growth and inflation in most parts of the country.
As for other precious metals, silver fell in spot transactions by about 1 percent to $ 22.95 an ounce, platinum 0.3 percent to $ 905.75, and palladium 0.1 percent to $ 1214.11.
#gold
#American Central
2023-09-07 19:11:15
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