Gold prices rose to their highest level in more than 9 months, to settle above $1900 an ounce.
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Gold rose to its highest level in 9 months
Gold prices rose to their highest level in more than 9 months, today, Friday, and settled above the level of $1,900 an ounce, after slowing inflation in the United States revived hopes for a slow pace of the Federal Reserve (US Central Bank) raising interest rates. .
Gold in instant transactions rose 1.1% to $ 1918.09 an ounce by (18:12 GMT).
So far, gold has risen this week by 2.8%, heading for gains for the fourth consecutive week. Likewise, US gold futures rose 1.1 percent, to reach $ 1920.10.
Yesterday, Thursday, data showed that US consumer prices fell for the first time in more than two and a half years in December.
In the context, members of the Federal Reserve, following the data, expressed their satisfaction that inflation continued to decline in December, paving the way for reducing the rate of interest rate hikes to 25 basis points during the monetary policy meeting in February.
As for silver prices, it rose 2% to $24.25 an ounce, while platinum fell 0.6% to $1061.62.
As for palladium, it fell 0.9% to $1,775.50, after declining earlier to $1,727, with the two metals heading for a weekly decline.
