{"id":88570,"date":"2023-08-28T13:50:19","date_gmt":"2023-08-28T09:50:19","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=88570"},"modified":"2023-08-28T22:31:50","modified_gmt":"2023-08-28T18:31:50","slug":"gold-rises-as-markets-assess-the-impact-of-the-us-interest-rate-path","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-rises-as-markets-assess-the-impact-of-the-us-interest-rate-path\/08\/28\/market-updates\/","title":{"rendered":"Gold rises as markets assess impact of US interest rate path"},"content":{"rendered":"\n<p>Gold prices rose Monday, August 28, despite US Federal Reserve Chairman Jerome Powell&#8217;s statements about the possibility of further rate hikes, as markets seek indications through economic data this week to draw a clearer picture of the path of interest rates.<\/p>\n\n\n\n<p>Spot gold rose 0.1% to $1,915.99 an ounce by 05:49 GMT, with the dollar index giving up a 12-week peak. US gold futures rose 0.2% to $1,943.80.<\/p>\n\n\n\n<p>Speaking at an annual symposium in Jackson Hole, Wyoming, on Friday, Powell left open the possibility of more rate hikes to bring down still-very high inflation, citing the surprising strength of the US economy.<\/p>\n\n\n\n<p>Higher interest rates would reduce demand for the non-yielding precious metal.<\/p>\n\n\n\n<p>A series of economic data this week, including the US core PCE price index and the Nonfarm Payroll report, is likely to provide a clearer picture of the economy&#8217;s strength.<\/p>\n\n\n\n<p>As for other precious metals, silver fell in spot transactions by 0.2%, to $24.17 an ounce, and platinum, by 0.1%, to $944.06. Palladium rose 0.5% to $1,230.74.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices rose Monday, August 28, despite US Federal Reserve Chairman Jerome Powell&#8217;s statements about the possibility of further rate hikes, as markets seek indications through economic data this week to draw a clearer picture of the path of interest rates. Spot gold rose 0.1% to $1,915.99 an ounce by 05:49 GMT, with the dollar &hellip;<\/p>\n","protected":false},"author":9,"featured_media":70951,"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":[6874,9925],"class_list":["post-88570","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold","tag-jackson-hole-economic-symposium"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88570","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=88570"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88570\/revisions"}],"predecessor-version":[{"id":88589,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88570\/revisions\/88589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70951"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=88570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=88570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=88570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}