2024-01-23T09:37:05+00:00
A-
A
A+
/ Gold prices rose globally during these moments of trading, today, Tuesday, while investors are awaiting 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 of 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 are now up 0.5% at $2,032 an ounce, while spot gold is up 0.45% at $2,031 an ounce. On the other hand, the dollar index is down 0.23% at 102.88 points.
Federal Reserve officials said last week that the U.S. central bank needs to see more inflation data before making any judgment on whether to cut interest rates and that the baseline for starting cuts is the third quarter.
Investors are awaiting the US Purchasing Managers’ Index report due on Wednesday, fourth-quarter GDP estimates due on Thursday, and personal consumption expenditures data on Friday, ahead of the Federal Reserve’s next meeting on January 30-31.
Spot silver rose 1.1% to $22.33 an ounce, platinum also rose 1.1% to $902.36 and palladium rose 0.9% to $944.47.