Gold price stability in global markets
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Gold prices stabilized after a rally in early trading Wednesday, as some increase in US Treasury yields offset the fall of the US dollar due to high inflation.
By 03:53 GMT, gold settled in spot transactions at $ 1743.54 an ounce, after rising by as much as 0.3%. And US gold futures fell 0.1% to $ 1745 an ounce.
Consumer prices in the United States jumped at the fastest pace in more than eight and a half years in March, sparking what most economists expect to be a fleeting wave of high inflation, which supports gold as a reducing tool to hedge against inflation.
The US dollar fell to a three-week low, which makes gold less expensive for holders of other currencies, while an increase in US Treasury bond yields raised the opportunity cost of acquiring the metal that does not yield a return.
As for other precious metals, silver rose 0.2% to $ 25.37, palladium rose 0.1% to $ 2691.62 an ounce, and platinum rose 0.8% to $ 1,165.43 an ounce.