As for other precious metals, spot silver advances 1.3%, reaching $23.37 per ounce; platinum improves 0.6%, reaching $890.38; and palladium registered an increase of 1.7%, standing at $1,033.84.
As for other precious metals, spot silver advances 1.3%, reaching $23.37 per ounce; platinum improves 0.6%, reaching $890.38; and palladium registered an increase of 1.7%, standing at $1,033.84.
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The prices of gold register a rise, reaching highs of more than a week this Wednesday, due to the decrease of the dollar and the yield of Treasury bonds. This weakening occurs after the inflation data in the US that They were more moderate, graising expectations of a possible interest rate cut sooner than investors expected.
Spot gold registered an increase of 0.5%, reaching US$1,971.60 per ounce, marking its highest level since November 7. Meanwhile, Gold futures in the United States also increased 0.5%, standing at US$1,976.10.
Ricardo Evangelista, of ActivTrades, said: “After inflation was lower than expected yesterday, the publication of today’s data could aggravate the dollar’s losing streak, in case the figures are below expectations. In this context, the risk is to the upside for gold,” in reference to the data on retail sales and producer prices in the United States that will be released in the coming hours.
Data released Tuesday shows that Consumer prices in the United States remain stable in Octoberwith the smallest annual acceleration of core inflation in two years.
After the disclosure of the Consumer Price Index (CPI), The dollar hit more than two-month lows and the yield on the benchmark 10-year US Treasury bond falls to its lowest level since September 22. A weaker U.S. currency makes gold priced in dollars less expensive for holders of other currencies.
As for other precious metals, spot silver advances 1.3%, reaching $23.37 per ounce; platinum improves 0.6%, reaching $890.38; and palladium registered an increase of 1.7%, standing at $1,033.84.
Source: Ambito
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