2024-01-04T06:09:23+00:00
A-
A
A+
/ Gold prices rose on Wednesday, as investors awaited more US jobs data to anticipate the next steps of the Federal Reserve (the US central bank) regarding its monetary policy, but the rise in US bond yields limited the rise of the precious metal.
By 04:34 GMT, gold in instant transactions rose 0.1 percent to $2,043.72 per ounce, after recording its lowest levels since December 21 on Wednesday.
US gold futures increased 0.4 percent to $2,051.10 an ounce.
The minutes of the Federal Reserve’s last meeting on December 12 and 13 showed that bank officials are increasingly convinced that inflation is subsiding, but they also indicated a high degree of uncertainty regarding expectations for a rate cut.
Lower interest rates reduce the opportunity cost of owning the non-yielding yellow metal.
The dollar index fell, but remained close to the three-week peak it reached in the previous session, while 10-year Treasury bond yields rose to 3.9330 percent.
As for other precious metals, silver settled in spot transactions at $22.97 per ounce, while platinum fell 0.5 percent to $966.59, and palladium rose 0.1 percent to $1,066.93.