Update prices
settle gold In spot transactions at $2,635.56 per ounce (ounce) by 0222 GMT, it moved mainly within a narrow range of nine dollars during the session. Gold recorded its lowest level in more than a week yesterday, Tuesday.
US gold futures rose 0.6 percent to $2,635.80.
As for other precious metals, it declined Silver In spot transactions, it rose 0.1 percent to $30.39 per ounce, and stabilized Platinum At $927.45, it fell Palladium 0.4 percent to $973.50.
“There is a geopolitical factor in all of this, as some selling pressure arose due to the ceasefire agreement between Israel and Lebanon,” said Kyle Rodda, a financial markets analyst at Capital.com.
A ceasefire was entered into between Israel and the Hezbollah group in Lebanon, which was reached with the mediation of the United States And FranceIt comes into effect at 0200 GMT today, Wednesday.
Gold is considered a safe investment in times of economic and geopolitical uncertainty, such as trade wars and other conflicts.
“In the long term, I think so,” Ruda said Trade war Which (US President-elect Donald) Trump will launch may be positive for gold due to high debt burdens and some abandonment of the dollar.”
Fed officials were divided Federal (The US Central Bank) regarding reducing prices Interest They met again earlier in the month, but they agreed to avoid giving too much guidance on the future direction of monetary policy.
According to the CME Group’s Fed Watch tool, markets currently expect 63 percent of US interest rates to be cut by 25 basis points in December.
Traders will closely monitor core PCE data, jobless claims and the first revision to GDP, due later today.
