Price movements
He went up gold In spot transactions, it rose 0.4 percent to $2,617.15 per ounce by 13:45 GMT, continuing a path towards ending a series of losses that lasted six sessions.
US gold futures rose 0.4 percent to $2,635.00.
Consumer prices rose US Slightly more than expected in September but the annual increase in inflation was the lowest in more than three and a half years.
Another report showed that the number of new applications submitted for unemployment aid last week rose by 258,000 applications in the week ending October 5th, compared to estimates of 230,000 applications.
Alex Epkarian, Chief Operating Officer at Allegiance Gold, said: “The CPI data did not bring any major surprises, and the job numbers show a decline, which reinforces the idea of lowering interest rates, which gives a boost to gold.”
In the past few days, we have seen a decline in gold’s rise, but now it is in a good position to rise.”
According to the Fed Watch tool of the CME Group, the markets expect 88 percent to cut interest rates by 25 basis points next month, compared to 76 percent before the release of the data.
The yellow metal, which does not generate a return, is the best investment in a low interest rate environment.
Attention is turning to the Producer Price Index data in the United States scheduled to be released tomorrow, Friday, for more indications about the path of reducing interest rates.
Ebkarian stated that escalating geopolitical tensions and strong demand from central banks are other positive catalysts for gold.
In the Middle East, it continued Israel Its attack on the Hezbollah group.
As for other precious metals, it rose Silver In spot transactions, 0.4 percent to $30.62 per ounce.
Platinum rose 1.2 percent to $955.95, and palladium rose 0.2 percent to $1,042.
