Gold rises over 1% as softer oil prices ease inflation worries
Spot gold rose 1.4% as falling oil prices eased inflation concerns and traders awaited US inflation data and Federal Reserve signals.
- Spot gold climbed 1.4% to $4,123.46 per ounce, while gold futures for December delivery also rose 1.4% to $4,132.70.
- President Donald Trump said he was highly unlikely to order further attacks on Iran, a conciliatory stance that helped limit oil prices and eased inflation pressure alongside a softened dollar making bullion more affordable overseas.
- Job growth accelerated in October with unemployment falling to 4.1%, reinforcing expectations for Fed resilience; silver rose 2.8% to $53.31 per ounce, platinum gained 1.6%, and palladium advanced 2.1%.
- Traders currently see an 81% chance the Fed will raise rates in December, up from 71% prior to payrolls data, according to CME's FedWatch tool.
- Market participants now await the Consumer Price Index on Tuesday and the Producer Price Index on Friday to further gauge the Fed's monetary policy stance.
51 Articles
51 Articles
The prices of future gold contracts closed at high, this Monday (9), above $4.1 thousand per ounce-troy, since the fall in oil prices reduces inflationary pressure. The dollar also fell abroad, which makes the precious metal cheaper for investors who use other currencies. In Comex, the metal division of the New York Mercantile Exchange (Nymex), the gold with delivery scheduled for October closed at high 0.97%, the US$ 4,114.5 per ounce-troy. The…
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Gold Price Surpasses $4,100 as Falling Oil Prices Ease Inflation Concerns
Gold prices rose more than 1% on Monday, supported by lower oil prices, a weaker US dollar and easing inflation concerns. Investors are awaiting upcoming ... The post Gold Price Surpasses $4,100 as Falling Oil Prices Ease Inflation Concerns first appeared on [your]NEWS.
After the record high gold lost almost 30 percent – but now the signs of soil formation are increasing. Central banks and private investors are gaining ground again. WORLD explains whether entry is now worthwhile – and how much price potential the investment strategists see.
Gold rises over 1% as softer oil prices ease inflation worries
Gold prices rose more than 1% on Monday, extending gains after surging nearly 5% last week. Spot gold climbed 1.6% to $4,129.69 per ounce by 02:20 GMT, while U.S. gold futures for December delivery also rose 1.6% to $4,139. Among other precious metals, spot silver gained 2.8% to $53.31 per ounce, platinum rose 1.6% to $1,556.14, and palladium climbed 2.1% to $1,044.28.
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