normal
Platinum is above $1,000 per ounce
April 13, 2024
17:44 pm
Gold continues its gains for the fourth session
Gold prices exceeded $2,400 per ounce to record their highest level ever on Friday, achieving gains for the fourth week after increasing tensions in the Middle East pushed investors towards safe havens.
At the end of the week’s trading, the price of gold in spot transactions decreased by 0.8% to $2,353.35 per ounce, after rising to a record level of $2,343.42. Prices in spot transactions rose by about 1% within a week.
Upon settlement, gold futures prices for June delivery rose by about $1.4 at $2,374.1 per ounce, the eighth record level this month, after touching $2,448.80, achieving gains during the week of 1.2%.
Kansas City Federal Reserve Bank President Jeffrey Schmid said that the flexibility of the US economy creates some uncertainty about the path of the interest rate, adding that with inflation exceeding the central bank’s target, economic growth momentum, and rising prices across a range of asset markets, the current stance of monetary policy… Appropriate.
Data from the University of Michigan revealed that inflation expectations for next year rose from 2.9% last month to 3.1% this month, exceeding the range of the two years prior to the pandemic when they ranged between 2.3% and 3%. Long-term inflation expectations also rose from 2.8% in March to 3% during the year. April.
Platinum broke through the $1,000 per ounce level, reaching its highest level in nearly 4 months.
As for other precious metals, silver in spot transactions fell 1% to $28.21 per ounce, after recording its highest levels since early 2021. Platinum rose 0.6% to $985.65, and palladium rose 0.9% to $1,055.62. The three metals achieved weekly gains. (agencies)
2024-04-13 13:44:23
#Gold #futures #contracts #2450.. #record #levels #month #Khaleej #newspaper
