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Gold rises over 2% as US inflation slows and interest rate cut expectations increase
Gold prices jumped by more than 2% during today’s trading session, supported by data showing a slowdown in inflation rates in the United States that came in higher than expectations. This boosted expectations of easier monetary policy by the U.S. Federal Reserve. Spot gold rose to $4,083.99 per ounce, while futures increased to $4,091.80. Other precious metals also saw gains, with silver rising to $58.89, platinum to $1,629.92, and palladium to $1,275.73 per ounce, amid growing market hopes that declining inflation and easing monetary policies will benefit the markets.
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