rose gold pricesToday, Friday, supported by the weakness of the dollar, while investors prepared for important inflation data in the United States and the decision of the Federal Reserve (US Central Bank) scheduled for next week regarding raising interest rates.
And gold in instant transactions increased 0.2% to $ 1793.16 an ounce by 02:41 GMT, but it has decreased 0.3% since the beginning of the week.
US gold futures rose 0.2% to $1,804.8, according to Archyde.com.
The dollar index fell 0.1%, as the dollar’s weakness makes gold more attractive to buyers holding other currencies.
Market participants now expect a 93% chance of a 50 basis point rate hike at the Federal Reserve’s December 13-14 policy meeting.
Investors will also be awaiting the US Consumer Price Index report for November, which is scheduled to be released on December 13th.
“Traders will be interested to see what the Federal Reserve has to say regarding the direction of inflation and when interest rates might peak,” OANDA senior analyst Edward Moya said in a note.
As for other precious metals, silver rose 0.6% to $23.20, while platinum increased 0.4% to $1006.91.
Palladium lost 0.4%, recording $1,918.50, but is on track for its second consecutive weekly gain.
