Gold prices increase with inflation fears escalating

Gold prices rose during Thursday’s trading, driven by the Federal Reserve warnings of the growing risk of inflation and the labor market, at a time when investors are watching the developments of trade talks between the United States and China scheduled in the coming days.

The price of gold in instant transactions increased by 0.9% to $ 3392.90 an ounce, and US gold futures increased by 0.2% to $ 3399.80 an ounce.

In the other precious metal market, silver rose by 1.2% to record $ 32.85 an ounce, and platinum increased by 0.9% to 982.81 dollars. On the other hand, palladium fell 0.3% to 969.93 dollars an ounce.

This performance comes in light of global economic and trade tensions, which leads investors towards the origins of safe haven, especially gold.