2023-06-05 18:33:06
Gold rose once more following weak growth in the US services sector boosted bets that the Federal Reserve (the US central bank) will temporarily stop raising interest rates next week.
Gold rose in spot trading by 0.5 percent, recording $ 1,957.70, reversing losses earlier in the session when it touched its lowest level since May 30. US gold futures rose 0.2 percent to $1,974.20.
The dollar index fell following the data, making dollar-denominated bullion more accessible to overseas buyers, while 10-year Treasury yields fell.
Silver fell in spot trading 0.2 percent to 23.54 dollars, platinum rose 3 percent to 1033.29 dollars, and palladium fell 1.1 percent to 1405.07 dollars.
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