Gold prices rose on Wednesday after fears of an escalation of the conflict between Russia and Ukraine boosted demand for safe-havens, including the precious metal, but gains were limited by the rise of the dollar.<\/p>\n\n\n\n
Spot transactions rose 0.2 percent to $ 1969.76 an ounce, after hitting a one-month high of $78.21 an ounce on Tuesday.<\/p>\n\n\n\n
And US gold futures settled at 1975.80 dollars an ounce.<\/p>\n\n\n\n
On Tuesday, Russian President Vladimir Putin said negotiations with Ukraine had “reached a dead end” while US President Joe Biden said for the first time that Russia’s invasion of Ukraine amounted to genocide.<\/p>\n\n\n\n
The dollar index has settled near a high reached in May 2020, which makes gold less attractive to buyers abroad.<\/p>\n\n\n\n
Although gold is a hedge against inflation and geopolitical risks, raising interest rates also increases the opportunity cost of holders of the precious metal, which does not generate interest.<\/p>\n\n\n\n
As for other precious metals, silver increased in spot transactions 0.4 percent to $25.46 an ounce. Platinum rose 0.7 percent to $972.51 an ounce. Palladium rose 3.1 percent to $2,398.15 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Wednesday after fears of an escalation of the conflict between Russia and Ukraine boosted demand for safe-havens, including the precious metal, but gains were limited by the rise of the dollar. Spot transactions rose 0.2 percent to $ 1969.76 an ounce, after hitting a one-month high of $78.21 an ounce on …<\/p>\n","protected":false},"author":9,"featured_media":61547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6978,6885,7717,6984],"class_list":["post-63825","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi","tag-fed","tag-lael-brainard","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=63825"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63825\/revisions"}],"predecessor-version":[{"id":63826,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63825\/revisions\/63826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61547"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=63825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=63825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=63825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}