Gold rose on Wednesday, February 10, hovering near the peak of a week that it reached in the previous session, as the attractiveness of the yellow metal increased as a hedge against inflation after the dollar fell and hopes for a US stimulus package increased.<\/p>\n\n\n\n
And gold rose in spot trading 0.3% to 1842.90 dollars an ounce. Prices reached their highest levels since the second of February to $ 1848.40 on Tuesday. And US gold futures won 0.4% to $ 1845.30. The dollar fell to near its lowest level in two weeks against its rivals.<\/p>\n\n\n\n
Higher inflation boosts gold but also raises Treasury yields, which in turn increases its cost of the opportunity to acquire the yellow metal. Investors are now awaiting a speech by Jerome Powell, Chairman of the Federal Reserve, before a hypothetical event of the New York Economic Club by 19:00 GMT.<\/p>\n\n\n\n
As for other precious metals, platinum reached its highest level since February 2015 at $ 1208.50, and rose in recent transactions 2.43% to $ 1203.24.<\/p>\n\n\n\n
Analysts say the global economic recovery, along with Biden’s bid to support green energy, could push the platinum market to run a deficit this year. Silver gained in spot transactions 0.4% to $ 27.32 an ounce, while palladium rose 0.2% to $ 2323.35.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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