2023-11-18T05:46:22+00:00
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/ Gold prices stabilized at the end of the weekend’s trading, but recorded weekly gains with the decline in dollar and Treasury bond yields amid growing expectations that the Federal Reserve has finished tightening its monetary policy.
Gold prices stabilized in spot trading at $1,980.13 after rising to the highest level in two weeks earlier in the session. Prices of the precious metal rose by about 2.3% this week
US gold futures settled down 0.1% to $1,984.70 per ounce.
Data released this week reinforced the fact that the Federal Reserve has likely finished raising interest rates.
Markets now expect the Fed to cut interest rates as early as May next year after data indicated a slowdown in inflation.
The price of silver in spot transactions fell 0.1% to $23.72 per ounce, while platinum rose 0.4% to $895.95.
Both rose 6.7% this week. Palladium gained 1.4% to $1,052.56 per ounce