Gold prices rebounded on Thursday, recouping losses from the previous session, buoyed by geopolitical tensions that spurred demand for the precious metal as a safe haven.<\/p>\n\n\n\n
In spot transactions, gold edged up by 0.1 percent to $2,334.64 per ounce as of 0809 GMT. The yellow metal had seen record highs for eight consecutive trading sessions until Tuesday.<\/p>\n\n\n\n
Meanwhile, US gold futures rose by 0.2 percent to $2,352.40.<\/p>\n\n\n\n
Gold has witnessed a 14 percent surge year-to-date, driven by robust purchases from central banks and heightened demand for safe-haven assets amid ongoing geopolitical uncertainties. Additionally, funds tracking market trends have contributed to the metal’s upward trajectory.<\/p>\n\n\n\n
Last week’s higher-than-anticipated inflation data and a robust labor market report, indicating stronger-than-expected job growth, have raised uncertainties regarding the timing and magnitude of potential interest rate cuts this year. Elevated interest rates typically diminish the appeal of gold, given its non-yielding nature.<\/p>\n\n\n\n
In contrast, silver dipped by 0.2 percent in spot transactions to $27.93 per ounce after hitting its highest level since June 2021 on Wednesday. Meanwhile, platinum surged by 1.3 percent to $972.60, and palladium edged up by 0.5 percent to $1,056.31.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rebounded on Thursday, recouping losses from the previous session, buoyed by geopolitical tensions that spurred demand for the precious metal as a safe haven. In spot transactions, gold edged up by 0.1 percent to $2,334.64 per ounce as of 0809 GMT. The yellow metal had seen record highs for eight consecutive trading sessions …<\/p>\n","protected":false},"author":9,"featured_media":94938,"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":[38,36],"tags":[7048,6885,7603,8790,8949,7375],"class_list":["post-99808","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-consumer-confidence","tag-fed","tag-gold-prices","tag-initial-jobless-claims","tag-pce-data","tag-pending-home-sales"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99808","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=99808"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99808\/revisions"}],"predecessor-version":[{"id":99809,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99808\/revisions\/99809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94938"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=99808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=99808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=99808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}