2024-01-02T09:06:27+00:00
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/ Gold prices rose today, Tuesday, supported by the possibility of the Federal Reserve cutting interest rates in 2024, while investors look to a series of economic data this week for more clarity on US interest rate expectations.
Gold futures now rose by 0.54% to $2,083 per ounce, while spot gold contracts rose by 0.53% to $2,074 per ounce.
On the other hand, the dollar also rose by about 0.08% to 101.10 points.
Bullion prices rose 13% in 2023 to post their first annual gain since 2020 as hopes that the US central bank may cut interest rates as early as March fueled demand for safe-haven assets.
Spot silver rose 1% to $24, and palladium rose 0.2% to $1,100.45 an ounce. Platinum fell 0.2% to $984.77.