Gold flips a little while waiting for new American indicators

Gold prices recorded a slight increase, during early Thursday’s trading, amid investor seizure of the opportunity after the yellow metal recorded the lowest level in a month in the previous session, amid anticipation of the product price index data in the United States in search of more indicators about the direction of the economy.

Prices update

Gold in instant transactions increased 0.2 percent to $ 318.20 an ounce by 0033 GMT. US gold futures decreased 0.1 percent to $ 3185.60, according to Reuters data.

Gold came down in immediate transactions during the previous session to its lowest level since April 10 after a trade agreement between Washington and Beijing, which led to a calm of a trade war between the two largest economies in the world.

Gold is usually seen as a way to hedge in the economic and political times. It ascends in the low interest rate environment.

The markets are now awaiting the data of the producers ’price index in the United States scheduled to be released later in the day, as investors are looking for more indicators about the path that the Federal Reserve (the US Central Bank) will adopt after consumers’ data that came weaker than expected.

The markets expect to reduce interest rates by 50 basis points this year, starting from October.

As for other precious metals, silver fell in instant transactions 0.2 percent to $ 32.16 an ounce, platinum rose 0.8 percent to 984.05 dollars, and palladium increased 0.3 percent to 953.75 dollars.