Inflation fears push gold above the $1800 level

Inflation fears push gold above the $1800 level
Inflation fears push gold above the $1800 level

Reuters

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Gold prices returned to the level of 1800 dollars today, supported by persistent concerns about inflation, as investors look to the upcoming US Federal Reserve meeting in search of indications on the prospects for monetary policy.

And the price of gold in spot transactions rose 0.5% to $ 1801.22 an ounce, by 12:03 GMT. US gold futures rose 0.4 percent to $1,802.50 an ounce.

The metal rose last Friday to its highest level since early September 2021, before giving up some of the gains on the back of the US Federal Reserve Chairman Jerome Powell saying that the US central bank should start reducing its purchases of assets.

As for other precious metals, silver rose in spot transactions 0.4 percent to $ 24.40 an ounce. Platinum rose 0.1 percent to $1,041.06, and palladium rose 0.9 percent to $2,039.87.

Source: Reuters

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Inflation fears push gold level

 
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