Gold gains before US inflation report
Gold prices rose as markets await the upcoming US inflation data scheduled for this week. The prices reached their highest level since June 17 following the release of weak US employment report data. The spot gold price increased by 0.12% to $1,406 per ounce, while futures declined by 0.2% to $1,390.60, amid expectations that this may influence the chances of a Federal Reserve rate hike at the upcoming meeting. Other precious metals also experienced slight increases, with silver up by 1.4% to $24.50 per ounce, while palladium fell by 1% to $1,364.55.
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