A report is due CPI In the United States for the month of October at 13:30 GMT. Experts expect the rate to decline inflation Basically on a monthly and yearly basis.
Although gold is an inflation hedge, it is very sensitive to rising interest rates because it increases the opportunity cost of holding non-yielding bullion.
Gold prices have risen about $ 100 since Friday’s data showed a slight rise in the US unemployment rate in October, raising hopes that the Federal Reserve could ease the pace of future interest rate hikes. .
Investors are also evaluating the situation in the cryptocurrency markets, as Bitcoin is trying to recover from its lowest level in the past two years.
As for the other precious metals, silver was up 0.6% to $ 21.14 an ounce.
Palladium was down 1.3% to $ 1841.38, while Platinum was up 0.7% to $ 992.33.
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and stability gold In spot trades at $ 1707.29 an ounce by 1124 GMT. While gold futures fell been united 0.2 percent to $ 1,710.70.
A report is due CPI In the United States for the month of October at 13:30 GMT. Experts expect the rate to decline inflation Basically on a monthly and yearly basis.
Although gold is an inflation hedge, it is very sensitive to rising interest rates because it increases the opportunity cost of holding non-yielding bullion.
Gold prices have risen about $ 100 since Friday’s data showed a slight rise in the US unemployment rate in October, raising hopes that the Federal Reserve could ease the pace of future interest rate hikes. .
Investors are also evaluating the situation in the cryptocurrency markets, as Bitcoin is trying to recover from its lowest level in the past two years.
As for the other precious metals, silver was up 0.6% to $ 21.14 an ounce.
Palladium was down 1.3% to $ 1841.38, while Platinum was up 0.7% to $ 992.33.
