Comex gold contract Delivered in Feb. It rose $8.80 to close at $1,827.30 an ounce.
The US Department of Labor said The Consumer Price Index (CPI), which measures inflation from consumer spending, jumped 7.0 percent in December year on year. which is the highest level since June 1982 but in line with analysts’ forecasts
In addition, the price of gold was positively affected by the weakening of the dollar. and the fall in US government bond yields. After the release of US inflation figures
A weaker dollar will increase the attractiveness of gold. by making gold contracts cheaper for holders of other currencies The fall in US government bond yields. It will reduce the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.
.