Gold Settles Below $ 1900 as Investors Await US Data

Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s ​​rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy.

Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level since January 8th at 1912.50 on Wednesday.

And US gold futures fell 0.3% to $ 1898.50 an ounce.

Market participants are awaiting a large number of US data, including the gross domestic product, the number of jobless claims to be released today, and the monthly personal consumption report on Friday.

US Fed officials played down the rise in price pressures and emphasized their support for keeping monetary policy loose for some time.

As for the other precious metals, palladium rose about 1% to $ 2771.63 an ounce, silver fell 0.3% to $ 27.62, and platinum fell 0.3% to $ 1187.66.