Gold fluctuate ahead of federal reserve speculation
2024-05-09 12:00:06 - From: Shafaq News
Shafaq news / Media outlets focused on economic affairs reported, on Thursday, that gold prices fluctuated within a narrow range in the global markets, as investors turned their attention to US economic data that could provide further evidence of the timing for potential interest rate cuts by the Federal Reserve.
Gold rose by 0.2% in spot transactions to $2,314.26 per ounce, while US gold futures fell by 0.1% to $2,321. A decrease in interest rates reduces the opportunity cost of holding gold.
Silver rose by 0.7% in spot transactions to $27.53, platinum increased by 0.8% to $982.10, and palladium rose by 0.5% to $956.13.
