Gold rebounds after 7-week low
Gold prices rose today, Tuesday, after hitting their lowest levels in more than seven weeks, as investors assessed developments in the Arab and Middle Eastern regions and awaited important U.S. data on monetary policy. The spot price of gold increased by 0.7% to reach $4,143.87 per ounce, while US gold futures contracts saw a slight decline of 0.2% to $4,175.10. This comes amid reports of talks between the United States and Iran mediated by third parties to end the ongoing war that has lasted for seven months, along with rising oil prices that intensify inflation concerns — concerns that could lead central banks to raise interest rates again, thereby putting pressure on gold prices. Additionally, other precious metals also faced declines: silver fell by 0.1% to $60.91, platinum decreased by 1% to $1,700.40, and palladium dropped by 0.4% to $1,209.29.
Notice: This Is an AI-Generated Summary
Comments (0)