Gold inches toward 10-week peak on U.S. inflation outlook
Gold prices rose today, Wednesday, by 0.9% to reach $4,404.99 per ounce, marking the highest level in ten weeks. This increase followed a decline in Federal Reserve interest rate hike expectations, as investors await U.S. inflation data that could influence monetary policy. Additionally, December-delivery gold futures increased by 0.5% to $4,464.80. This uptick came as the precious metal faced technical resistance at the 100-day moving average around $4,387, after closing lower in the previous session.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)