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The level of inflation raises gold prices
11:24 - 17/03/2021
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The information / Baghdad ..
Gold prices rose, on Wednesday, amid expectations of a higher level of inflation, but transactions were limited to a narrow range, with investors being cautious before the meeting of the US Federal Reserve Policy Committee.
Gold rose 0.3 percent in the spot market to $ 1736.42 an ounce, by 04:55 GMT, and had earlier touched the highest level since the first of March, reaching $ 1740.90 an ounce.
While the yellow metal rose in futures trading by 0.3 percent to 1735.40 dollars an ounce.
Geoffrey Haley, market analyst at Oanda, said, "Finally, it seems that gold has found a few friends even with the continued rise in revenues and the dollar. Gold's role as hedging in the face of inflation may return to the fore and support prices."
In terms of other precious metals, silver fell 0.2 percent to 25.90 an ounce, and palladium lost 0.3 percent to $ 2490.16, after hitting a year high of $ 2520.31 yesterday, while platinum fell 0.4 percent to $ 1207.56 an ounce. End / 25
Gold prices rose, on Wednesday, amid expectations of a higher level of inflation, but transactions were limited to a narrow range, with investors being cautious before the meeting of the US Federal Reserve Policy Committee.
Gold rose 0.3 percent in the spot market to $ 1736.42 an ounce, by 04:55 GMT, and had earlier touched the highest level since the first of March, reaching $ 1740.90 an ounce.
While the yellow metal rose in futures trading by 0.3 percent to 1735.40 dollars an ounce.
Geoffrey Haley, market analyst at Oanda, said, "Finally, it seems that gold has found a few friends even with the continued rise in revenues and the dollar. Gold's role as hedging in the face of inflation may return to the fore and support prices."
In terms of other precious metals, silver fell 0.2 percent to 25.90 an ounce, and palladium lost 0.3 percent to $ 2490.16, after hitting a year high of $ 2520.31 yesterday, while platinum fell 0.4 percent to $ 1207.56 an ounce. End / 25
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