2024-01-22T08:31:07+00:00
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/ Gold prices declined globally during these moments of trading, on Monday, as traders await the release of the US Federal Reserve’s preferred inflation measure later this week, which may affect the central bank’s decision to set interest rates and expectations next week.
Spot gold contracts are now down 0.3% at $2,023 per ounce, while gold futures are down 0.4% at $2,021 per ounce. On the other hand, the dollar index is down slightly by 0.05% to 103.020 points.
Last week, US Federal Reserve officials said they needed more inflation data before making any decision on cutting interest rates.
The comments came on the heels of improved consumer sentiment in the United States, a strong labor market and retail sales data that suggested the economy remained strong.
The US dollar index fell, while yields on benchmark 10-year US Treasury notes fell from their highest level in more than a month to 4.1111%.
As for other metals, silver fell in spot transactions by 0.2% to $22.55 per ounce, platinum was stable at $898.95, and palladium fell by 0.1% to $945.88.