2024-03-25 22:29:51
Published on: Tuesday, March 26, 2024 – 12:26 AM | Last updated: Tuesday, March 26, 2024 – 12:30 AM
Gold futures prices rose in trading on Monday, with the value of the dollar declining in light of expectations of interest cuts in major economies.
The dollar value index against other major currencies decreased during trading to 104.14 points before recovering part of its losses to record 104.21 points, a decrease of 0.21 points from its level on Friday at the end of last week’s trading.
The yellow metal ended today’s trading with an increase of $16.40 to $2176.40 per ounce for next April delivery, while the price of silver rose by $0.048 to $24.891 per ounce for next May delivery, and copper rose by $0.0085 to $4.0160 per pound for next May delivery.
The rise in the price of gold is supported by its increased attractiveness as an investment haven in light of escalating tensions in Eastern Europe and the Middle East.
Investors are also monitoring important US economic data, including income data, personal spending, new home sales, demand for durable goods, deferred home sales, and US consumer confidence.
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