2024-04-02T04:56:51+00:00
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/ Gold prices hovered today, Tuesday, below the record high levels recorded in the previous session, with the US dollar and Treasury bond yields holding steady after strong US data raised doubts about whether the Federal Reserve (the US central bank) would make three interest rate cuts. this year.
The spot price of gold was unchanged at $2,250.79 per ounce by 04:15 GMT, holding below its all-time high of $2,265.49 recorded on Monday. US gold futures gained 0.6 percent to $2,271.30.
US stocks mostly fell on Monday, weighed down by investor concerns about the timing of an interest rate cut by the Federal Reserve (US central bank).
Bullion gains stopped as the US dollar fluctuated near the highest level in four and a half months, while benchmark US Treasury bond yields for ten years were trading near their highest levels in two weeks after data showed growth in the US manufacturing sector for the first time in 1-1 year. /2 years in March
Gold tends to rise when interest rates are lowered because it reduces the opportunity cost of holding bullion.
In spot transactions, silver rose 0.7% to $25.26 per ounce, platinum fell 0.1% to $900.65, and palladium rose 1.1% to $1,006.84.