Gold prices fell during trading on Wednesday to extend the precious metal’s losses after losing more than 1% in yesterday’s session, affected by higher-than-expected US inflation data.<\/p>\n\n\n\n
In terms of trading, spot gold contracts settled at $1,702.52 an ounce after falling more than 1% in the previous session, while gold futures contracts for December delivery also fell by 0.43% to reach $1,710.10 an ounce.<\/p>\n\n\n\n
On the other hand, in addition to gold, silver futures contracts for December delivery fell by 0.67%, recording $19.36 an ounce, while platinum prices rose by 0.89% to $892.22 an ounce, and palladium declined by 0.12% to $2,104 an ounce.<\/p>\n\n\n\n
The release of US inflation data yesterday led gold prices to decline sharply, after the data showed that inflation rose in August, exceeding market expectations, as it recorded 8.3%, after expectations indicated a slowdown to 8.1%, after it had recorded 8.5% in its previous reading for the month of July. The high data fueled investor expectations that the US Federal Reserve would raise interest rates aggressively<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell during trading on Wednesday to extend the precious metal’s losses after losing more than 1% in yesterday’s session, affected by higher-than-expected US inflation data. In terms of trading, spot gold contracts settled at $1,702.52 an ounce after falling more than 1% in the previous session, while gold futures contracts for December delivery …<\/p>\n","protected":false},"author":9,"featured_media":71340,"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":[38,36],"tags":[6978,6874],"class_list":["post-72151","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-cpi","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72151","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=72151"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72151\/revisions"}],"predecessor-version":[{"id":72152,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72151\/revisions\/72152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=72151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=72151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=72151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}