Commodities
Gold Prices Rise Amid Weakening Expectations of US Rate Hike
Gold prices have started the month on an upward note after declining expectations of a US interest rate hike. This comes following lower-than-expected inflation data, which has markets awaiting US jobs data for clues on monetary policy.
The spot gold price rose by 0.5% to $4,175.19 per ounce today, while US gold futures for December delivery climbed 0.4% to $4,204.80.
Other precious metals also saw increases, with silver rising 1.2% to $61.11 per ounce, platinum increasing 0.7% to $1,717.35, and palladium climbing 0.3% to $1,207.12.