Gold stabilizes ahead of the US inflation announcement…and silver is at a historic level #urgent
Gold prices stabilized on Thursday, supported by signs of monetary easing from the Federal Reserve, while limiting the recovery The price of gold in spot transactions rose 0.1% to $4,334.70 per ounce, by 05:34 GMT, after rising more than 1% late on Wednesday. Gold futures in the United States also fell by 0.2% to $4,365.40.
Meanwhile, the price of Silver rose 0.3% to $66.48 per ounce after hitting a record high of $66.88 in the previous session.
Silver’s total gains have reached 130% so far this year, outpacing gold’s 65% gain thanks to strong industrial demand, steady investment interest, and low inventories.
In other precious metals, the price of platinum rose 2.9% to reach $1,952.90, its highest level in more than 17 years, while palladium increased 1.1% to reach its highest level in almost 3 years at $1,666.44.
On the other hand, the dollar index maintained its previous gains after touching its highest level in almost a week yesterday, Wednesday, which limited the rise in dollar-denominated gold prices.
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