Gold is considered a hedge against inflation, but it is highly sensitive to a rally interest rates That increases the opportunity cost of owning the non-interest-bearing precious metal.
Data is expected inflation The US for the month of December Thursday, and expectations indicate a slowdown in inflation rates on an annual basis.
Fed official Michelle Baumann said Federal (US Central Bank) Tuesday that the central bank will have to raise interest rates again to combat increasing inflation, and this will likely lead to more fragile conditions for the labor market.
For other precious metals, it increased Silver In spot transactions, it rose 1.5 percent to $ 24,025 an ounce, and it rose Platinum 0.9 percent to $1,098.3 an ounce, and rose palladium 0.3 percent, to $1,782.5 an ounce.
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And by 0242 GMT, prices have stabilized gold In spot transactions, it decreased by 0.3 percent, equivalent to $ 6.46, to $ 1883.42 an ounce, recording the highest level in eight months. And US gold futures rose 0.5 percent to $ 1887.90 an ounce.
Gold is considered a hedge against inflation, but it is highly sensitive to a rally interest rates That increases the opportunity cost of owning the non-interest-bearing precious metal.
Data is expected inflation The US for the month of December Thursday, and expectations indicate a slowdown in inflation rates on an annual basis.
Fed official Michelle Baumann said Federal (US Central Bank) Tuesday that the central bank will have to raise interest rates again to combat increasing inflation, and this will likely lead to more fragile conditions for the labor market.
For other precious metals, it increased Silver In spot transactions, it rose 1.5 percent to $ 24,025 an ounce, and it rose Platinum 0.9 percent to $1,098.3 an ounce, and rose palladium 0.3 percent, to $1,782.5 an ounce.