In that context, Spot gold gains 0.4%, to $2,074.49 an ounceits highest since December 4, and on track for a 13% return this yearthe best since 2020.
For their part, the Gold futures in the United States advanced 0.8%at $2,086.30 per ounce.
The fall of the dollar boosts the price of gold
He dollar index hit a five-month low and is headed for its first annual decline since 2020, making the bullion more attractive for buyers using other currencies. The 10-year Treasury benchmark yields They were also near five-month lows.
“There are a lot of buts, permutations and combinations, but the fact is that no matter what happens, the Fed is not going to raise rates again (…) it is the base case (for gold),” he said Kunal Shahfrom Nirmal Bang Commodities in Mumbai.
Falling rates reduce the opportunity cost of holding bullionwhich do not accrue interest.
Among other precious metals, silver spot rises 0.1%, to $24.23 an ounce, while the platinum advances 0.7%, to $985.07. He palladium gains 0.4%, to $1,178.3, but remains on track to close its worst year since 2008.
Source: Ambito
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