The price of gold rose 2% at the end of trading today, with the acceleration of inflation

The price of gold rose 2% at the end of trading today, with the acceleration of inflation
The price of gold rose 2% at the end of trading today, with the acceleration of inflation

books : The people of Egypt

witnessed gold prices A 2% increase in the settlement of trading on Wednesday, with acceleration inflation And before the issuance of the minutes of the meeting Federal Reserve.

The rise in the price of the precious metal came after data showed that the consumer price index in the United States rose 0.4% in September on a monthly basis, against expectations of an increase of 0.3%.

Inflation increases in September

Annual inflation recorded a level of 5.4% in September compared to 5.3% in the previous August.

Yesterday, the US House of Representatives gave final approval to temporary legislation related to raising the debt ceiling of $480 billion to $28.9 trillion, avoiding the United States from defaulting temporarily on its debts.

Waiting for the results of the Federal Reserve meeting minutes

Investors are awaiting the minutes of the Federal Reserve’s meeting later in the day, to monitor the details of policy makers’ discussions during the last meeting.

The price of gold futures contracts for December delivery rose 2%, or $35.40, to $1,794.70 an ounce at settlement, the highest settlement since September 15th.

The dollar index, which monitors the performance of the US currency against a basket of six major currencies, fell 0.5% to 94.071 points.

Source

price gold rose trading today acceleration inflation

 
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