Gold prices rose on Wednesday from a one-month low hit in the previous session as the dollar and bond yields fell, a day before US consumer price data could provide clues about the path to raising interest rates.<\/p>\n\n\n\n
And by 0644 GMT, spot gold rose 0.3 percent to $ 1930.37 an ounce, after falling to its lowest level since the tenth of July at $ 1922 an ounce on Tuesday. US gold futures rose 0.2 percent to $1,964.50 an ounce.<\/p>\n\n\n\n
Data earlier showed that China’s consumer price index contracted in July, with the world’s second-largest economy finding it difficult to revive demand, as well as increasing pressure on authorities to take additional direct stimulus measures.<\/p>\n\n\n\n
Gold, which is usually seen as a hedge against economic risks, received support from renewed concerns about the world’s largest economy after Moody’s downgraded the credit rating of several US banks.<\/p>\n\n\n\n
As a result, long-term US Treasury yields fell, making gold more attractive. The dollar index also remained far from Tuesday’s high, down 0.2 percent.<\/p>\n\n\n\n
As for other precious metals, spot silver rose 0.7 percent to $22.91 an ounce. Platinum rose 0.7 percent to $906.46 an ounce. Palladium rose 0.5 percent to $1,226.03 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Wednesday from a one-month low hit in the previous session as the dollar and bond yields fell, a day before US consumer price data could provide clues about the path to raising interest rates. And by 0644 GMT, spot gold rose 0.3 percent to $ 1930.37 an ounce, after falling to …<\/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":[6978,6885,6874,7957,9364],"class_list":["post-87584","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi","tag-fed","tag-gold","tag-nfp-data","tag-raphael-bostic"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87584","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=87584"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87584\/revisions"}],"predecessor-version":[{"id":87585,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87584\/revisions\/87585"}],"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=87584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}