2023-08-30 08:19:06
The global price of gold witnessed a slight decline during trading today, Wednesday, but the yellow metal remained hovering near its highest levels in three weeks, while investors cut bets on raising US interest rates in response to weak economic data, according to Archyde.com.
The price of an ounce of gold
The price of gold in spot transactions decreased by 0.08% to 1936 dollars an ounce.
The global price of gold
The price of gold in US gold futures contracts decreased by 0.08%, to 1963 dollars an ounce.
The dollar index rose 0.06% to 103,537 points.
And futures prices for the yellow metal for December delivery increased by 0.95%, or the equivalent of $ 18.3, to $ 1965.1 an ounce, its highest level since the seventh of August.
And the data of the US Bureau of Labor Statistics showed, yesterday, Tuesday, that the number of available job opportunities decreased by 338 opportunities to 8.827 million jobs during the month of July, to record its lowest level in 28 months, which means that the labor market was affected by the tightening of monetary policy by the Federal Reserve.
Other data showed that US consumer confidence declined in August to 106.1 points, from a downwardly revised July reading of 114.0 points.
The index of short-term consumer expectations declined to 80.2 points from 88.0 points, but it still exceeded the level of 80 points, which historically indicates a possible recession during the next year.
Elsewhere, spot silver fell 0.4% to $24.63 an ounce, but was hovering near a one-month high.
Platinum fell 0.1% to $975.07, following rising to its highest level since July 19 in the previous session. Palladium fell 0.8% to $1,239.38.
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