Commodities
Gold Prices Rise as Weaker Dollar Supports Market
Gold prices have risen in global markets as the US dollar weakened ahead of key US inflation data releases. Spot gold rose by 0.3% to $4,414.28 per ounce at 0419 GMT on Thursday.
Marex analyst Edward Meir noted that geopolitical developments in the Persian Gulf are currently a secondary factor for gold, with the precious metal instead drawing support from the decline in the US dollar.
The weaker dollar has made gold and other dollar-priced metals relatively cheaper for buyers holding other currencies, providing support to prices. The US Producer Price Index (PPI) is due later on Thursday at 1230 GMT, followed by consumer inflation data on Friday.