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[size=36]Gold rose to the highest level in 6 months[/size]
Economie| 09:40 - 03/01/2023
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Follow-up - Mawazine News
Gold prices recorded their highest level in six months on Tuesday, amid weak trading, with the market's attention shifting to the minutes of the last monetary policy meeting of the US Federal Reserve, scheduled for release this week.
Gold in spot contracts rose 0.8 percent to $1838.69 an ounce at 0257 GMT, according to Reuters data, and gold futures contracts in the United States increased by one percent to $1843.90.
The dollar index fell 0.1 percent, making gold priced in the US currency more attractive to buyers abroad.
Minutes of the Federal Reserve's December monetary policy meeting are due to be released next Wednesday, which could provide guidance on the Fed's tightening path.
Gold is considered a hedge against inflation and economic uncertainties, but high interest rates increase the opportunity cost of owning gold because it does not generate interest.
Spot silver rose 1.1 percent to $24.25, platinum rose 0.8 percent to $1,077.98, while palladium fell 0.1 percent to $1,792.21. Ended 29/N33
Gold prices recorded their highest level in six months on Tuesday, amid weak trading, with the market's attention shifting to the minutes of the last monetary policy meeting of the US Federal Reserve, scheduled for release this week.
Gold in spot contracts rose 0.8 percent to $1838.69 an ounce at 0257 GMT, according to Reuters data, and gold futures contracts in the United States increased by one percent to $1843.90.
The dollar index fell 0.1 percent, making gold priced in the US currency more attractive to buyers abroad.
Minutes of the Federal Reserve's December monetary policy meeting are due to be released next Wednesday, which could provide guidance on the Fed's tightening path.
Gold is considered a hedge against inflation and economic uncertainties, but high interest rates increase the opportunity cost of owning gold because it does not generate interest.
Spot silver rose 1.1 percent to $24.25, platinum rose 0.8 percent to $1,077.98, while palladium fell 0.1 percent to $1,792.21. Ended 29/N33
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