Gold prices jumped by more than 1% today, Thursday, surpassing the level of $ 1900 an ounce, before paring its gains, following data showed signs of slowing down. inflation in the United States This increased bets on slowing the rate hike in the US in the future.
Consumer prices in the United States unexpectedly fell in December, for the first time in more than two and a half years, amid falling prices of gasoline and other commodities.
And gold increased in spot transactions by 0.5%, to $ 1886.19 an ounce, by 1447 GMT, following earlier reaching $ 1901.4, the highest level since May 2022.
US gold futures rose 0.6% to $1,889.50 an ounce, according to Archyde.com.
In the wake of the inflation data, the dollar fell 0.5% to its lowest level since early June. The dollar’s decline increases the attractiveness of the precious metal denominated in the US currency to holders of other currencies.
As for other precious metals, silver rose 1.4% to $23.74 an ounce, following jumping 3% earlier.
Palladium fell 1.2% to $1,752.18 an ounce, while platinum fell 1.1% to $1,059.04 an ounce.