Gold to the highest level in a week as the dollar...

Gold prices rose to a one-week high on Tuesday as the dollar weakened after a slower-than-expected rise in US inflation led to uncertainty over the timeframe for the Federal Reserve to scale back monetary stimulus.
And gold rose in spot transactions 0.6 percent to $ 1804.30 an ounce by 1800 GMT.
And US gold futures rose 0.7 percent to settle at $1,807.10 an ounce.
The core US consumer price index rose 0.1 percent in August, defying expectations for an increase of 0.3 percent, which negatively affected the US dollar. It was the smallest increase since February and followed a 0.3 percent increase in July.
The inflation data may reinforce the view that the US central bank may go slowly in ending economic support measures and keep interest rates low. Gold benefits from low interest rates because it reduces the cost of holding the precious metal, which does not generate returns.
Among other precious metals, palladium fell 5.12 percent to $ 1980.30 an ounce, its lowest level since July 2020, while platinum fell 1.7 percent to $ 944.26. Palladium losses since the beginning of September amounted to about 20 percent.
Silver rose 0.57 percent to $23.85 an ounce.
(Reuters)





These were the details of the news Gold to the highest level in a week as the dollar... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Exxon smashes Western oil majors’ profits with $56bn in 2022

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]