Gold prices rose on Thursday as the dollar weakened as investors prepared for a batch of US economic data to be released ahead of next week’s Federal Reserve (Central Bank) monetary policy meeting.<\/p>\n\n\n\n
By 0230 GMT, spot gold rose 0.4 percent to $1996.50 an ounce, while US gold futures rose 0.5 percent to $2005.20.<\/p>\n\n\n\n
The dollar index fell 0.1 percent on Thursday, making the yellow metal less expensive for holders of other currencies.<\/p>\n\n\n\n
On Wednesday, the US House of Representatives narrowly approved a bill to raise the government’s debt ceiling of $31.4 trillion.<\/p>\n\n\n\n
Meanwhile, First Republic Bank’s market value fell again on Wednesday as investors wait to see if it will be able to find buyers for the assets and turnaround without government support.<\/p>\n\n\n\n
Safe-haven gold rose to a one-year high of $2,048.71 in mid-April when the banking crisis unfolded and weak economic readings in the United States boosted bets for a pause in rate hikes.<\/p>\n\n\n\n
Lower interest rates increase the attractiveness of non-yielding gold.<\/p>\n\n\n\n
Traders will closely follow the quarterly US GDP and weekly jobless claims data due at 1230 GMT, after data on Wednesday showed that new orders for major US-made manufacturing goods fell more than expected in March, while shipments fell, which is likely to Lower spending on equipment slowed economic growth in the first quarter of the year.<\/p>\n\n\n\n
For other precious metals, spot silver increased 0.5 percent to $25.02 an ounce. Platinum rose 0.3% to $1,092.68, and palladium rose 0.1% to $1,513.81.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Thursday as the dollar weakened as investors prepared for a batch of US economic data to be released ahead of next week’s Federal Reserve (Central Bank) monetary policy meeting. By 0230 GMT, spot gold rose 0.4 percent to $1996.50 an ounce, while US gold futures rose 0.5 percent to $2005.20. The …<\/p>\n","protected":false},"author":9,"featured_media":77716,"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":[38,6827,49,37,36],"tags":[8322,7603,6984,8367],"class_list":["post-83348","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-fomc-meeting","tag-gold-prices","tag-treasury-yields","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83348","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=83348"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83348\/revisions"}],"predecessor-version":[{"id":83349,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83348\/revisions\/83349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77716"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=83348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=83348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=83348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}