Gold prices rose on Tuesday, supported by a decline in the dollar and US Treasury yields, while investors awaited the release of inflation data for December this week, which may support a decision by the Federal Reserve (the US Central Bank) to raise interest rates sooner than later. Expected.
And the price of gold in spot transactions rose 0.3 percent to 1806 dollars an ounce (an ounce) by 02:32 GMT.
And the price of gold in US futures contracts rose 0.3 percent to 1804.90 dollars.
And US Treasury yields for 10 years fell to 1.778 percent, down from the highest level in two years recorded in the previous session of 1808 percent.
Investors are now awaiting inflation data due on Wednesday. The data is expected to show the core US consumer price index rose to its highest level in decades to 5.4 percent in December, from 4.9 percent in the previous month.
Some investors consider gold as a hedge against high inflation, but it is vulnerable to rising US interest rates, which increase the opportunity cost of holders of the non-returnable yellow metal, while the rise of the dollar makes the precious metal expensive for holders of other currencies.
In other precious metals markets, the price of silver in spot transactions rose 0.4 percent to $22.55 an ounce, platinum rose 1 percent to $949.28 an ounce, and palladium increased 0.5 percent to $1,921.74.
(Reuters)
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