Gold rises as dollar and bond yields fall as market awaits US inflation figures

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(Archyde.com) – U.S. Treasury yields edged higher on Wednesday, although prices moved in a narrow range as investors were reluctant to make big bets ahead of U.S. inflation data.

It gained 0.53 percent to دولار 1,835.20 an ounce by 1830 GMT.

U.S. gold futures rose 0.45 percent to.1,836. 10 an ounce.

Ten-year benchmark yields have fallen from their highest levels since November 2019 while the dollar has fallen, making the precious metal priced in the greenback cheaper for holders of other currencies.

All eyes are on U.S. consumer price data for January, which will be released on Thursday and might provide further clarity on the Federal Reserve’s path to raising interest rates.

While a strong inflation reading is expected to lift gold prices as a hedge, higher U.S. interest rates will raise the opportunity cost of the non-yielding metal.

Among other precious metals, it rose 0.45 percent to.23.28 an ounce while platinum rose 0.25 percent to. 1034.80 and jumped 1.84 percent to. 2289.10.

(Prepared by my millennial grandfather for the Arabic bulletin)

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