Gold prices rose on Thursday against the backdrop of a decline in the dollar and a decline in US 10-year Treasury bond yields, but remained near their lowest levels in five weeks as investor optimism about cutting interest rates faded after tough comments from a Federal Reserve official and strong data.<\/p>\n\n\n\n
By 0121 GMT, the price of gold in spot transactions rose 0.2 percent to $2,010.59 per ounce, a day after it fell to $2,001.72, its lowest level since December 13.<\/p>\n\n\n\n
US gold futures also increased 0.3 percent to $2,012.40.<\/p>\n\n\n\n
The dollar fell 0.2 percent, making gold priced in the US currency less expensive for holders of other currencies. Benchmark 10-year US Treasury bond yields also fell.<\/p>\n\n\n\n
Retail sales in the United States rose more than expected last month, making the economy enter the new year on solid ground.<\/p>\n\n\n\n
Atlanta Fed President Raphael Bostic is expected to speak at two separate events later Thursday.<\/p>\n\n\n\n
Bostic said inflation could “swing” if policymakers rush to cut interest rates, warning that cutting inflation toward the central bank’s 2 percent target is likely to slow in the coming months, the Financial Times reported on Sunday.<\/p>\n\n\n\n
Lowering interest rates reduces the opportunity cost of holding bullion.<\/p>\n\n\n\n
As for other precious metals, silver rose in spot transactions 0.4 percent to $22.61 per ounce. Platinum increased 0.2 percent to $885.38, and palladium rose 1.2 percent to $926.54.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Thursday against the backdrop of a decline in the dollar and a decline in US 10-year Treasury bond yields, but remained near their lowest levels in five weeks as investor optimism about cutting interest rates faded after tough comments from a Federal Reserve official and strong data. By 0121 GMT, the …<\/p>\n","protected":false},"author":9,"featured_media":94364,"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":[6885,7603,6987,8768,6957,8195,10656],"class_list":["post-95561","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold-prices","tag-inflation","tag-loretta-mester","tag-ppi","tag-rate-cuts","tag-red-sea"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/95561","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=95561"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/95561\/revisions"}],"predecessor-version":[{"id":95562,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/95561\/revisions\/95562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94364"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=95561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=95561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=95561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}