2024-01-23T09:37:05+00:00
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/ Gold prices rose globally during these moments of trading, today, Tuesday, while investors await interest rate decisions from a number of central banks, in addition to a large number of economic data in the United States this week.
After the decline in the US dollar index during today’s trading, it made gold priced in the US currency more attractive to holders of other currencies.
Gold futures have now risen by 0.5% to $2,032 per ounce, while spot gold contracts are rising by 0.45% to $2,031 per ounce. On the other hand, the dollar index is declining by 0.23% to 102.88 points.
Fed officials said last week that the US central bank needs to see more inflation data before making any judgment on cutting interest rates and that the baseline to start cuts is the third quarter.
Investors are awaiting the US PMI report scheduled for Wednesday, fourth-quarter GDP estimates scheduled for Thursday, and also personal consumption expenditures data on Friday, ahead of the Federal Reserve’s next meeting on January 30-31.
Silver rose in spot transactions 1.1% to $22.33 per ounce, platinum also rose 1.1% to $902.36, and palladium rose 0.9% to $944.47.