Gold prices steadied on Thursday and moved in a narrow range, hovering near the highest level in nearly seven months, with investors awaiting a key reading on inflation to determine whether US interest rate cuts will come sooner than expected.<\/p>\n\n\n\n
By 0543 GMT, gold in spot transactions fell 0.1 percent to $2,041.76 per ounce, after recording its highest levels since May 5 on Wednesday, and is heading for the second consecutive monthly gain. The yellow metal was trading in a range of about five dollars on Thursday.<\/p>\n\n\n\n
US gold futures for December delivery fell 0.2 percent to $2,042.40 an ounce.<\/p>\n\n\n\n
Federal Reserve officials this week signaled the possibility of lower interest rates in the coming months and expected growth to slow and inflation to continue to decline.<\/p>\n\n\n\n
Lower interest rates reduce the opportunity cost of holding non-yielding bullion.<\/p>\n\n\n\n
The dollar index fell close to its lowest levels in three months, making gold less expensive for holders of other currencies.<\/p>\n\n\n\n
As for other precious metals, silver in spot transactions fell 0.2 percent to $24.95 per ounce. Platinum fell 0.2 percent to $930.24. Palladium fell 0.4 percent to $1,023.42 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices steadied on Thursday and moved in a narrow range, hovering near the highest level in nearly seven months, with investors awaiting a key reading on inflation to determine whether US interest rate cuts will come sooner than expected. By 0543 GMT, gold in spot transactions fell 0.1 percent to $2,041.76 per ounce, after …<\/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":[6885,10734,6984,8324],"class_list":["post-93382","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-sp-pmis","tag-treasury-yields","tag-us-dollar-index"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93382","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=93382"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93382\/revisions"}],"predecessor-version":[{"id":93383,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93382\/revisions\/93383"}],"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=93382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=93382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=93382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}