On Thursday, gold prices rose to a nine-week high thanks to a weaker dollar and bets that the Federal Reserve may soon halt its rate-raising cycle.<\/p>\n\n\n\n
And by 0325 GMT, spot gold rose 0.5 percent to $ 1987.18 an ounce, the highest level since mid-May. US gold futures rose 0.4 percent to $1,988.80.<\/p>\n\n\n\n
Low interest rates help gold because they reduce the opportunity cost of holding non-yielding bullion.<\/p>\n\n\n\n
The dollar index fell 0.2%, near its lowest level in more than a year, making gold cheaper for holders of other currencies.<\/p>\n\n\n\n
The US central bank is expected to raise interest rates by 25 basis points at its meeting next week, to keep them in the range of 5.25-5.5 percent in 2023, according to CME’s Fed Watch tool.<\/p>\n\n\n\n
As for other precious metals, spot silver increased 0.3 percent to $25.23 an ounce, platinum rose 0.1 percent to $973.81, while palladium fell 0.2 percent to $1,305.54.<\/p>\n","protected":false},"excerpt":{"rendered":"
On Thursday, gold prices rose to a nine-week high thanks to a weaker dollar and bets that the Federal Reserve may soon halt its rate-raising cycle. And by 0325 GMT, spot gold rose 0.5 percent to $ 1987.18 an ounce, the highest level since mid-May. US gold futures rose 0.4 percent to $1,988.80. Low interest …<\/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":[38,37,36],"tags":[6885,6874,10406],"class_list":["post-86812","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-interest-rate-speculations"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86812","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=86812"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86812\/revisions"}],"predecessor-version":[{"id":86813,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86812\/revisions\/86813"}],"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=86812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=86812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=86812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}