Warsh's Speech in Focus as Gold Prices Surpass $4,600
Gold prices rose on Thursday (August 27) to trade above $4,600 per ounce, supported by a weaker US dollar and easing inflation concerns amid softer energy prices.
The yellow metal had declined 1% in the previous session after US inflation data came broadly in line with expectations.
As of 5:40 am IST, spot gold was up 0.5%, or $22, at $4,616.70 an ounce, while spot silver rose 0.9%, or $0.60, to $68.70 an ounce.
The US dollar traded weaker on Thursday after rising above the 99 mark following the latest US economic data, making gold cheaper for holders of other currencies and potentially boosting demand for the precious metal.
Crude oil prices also eased, with Brent futures down 0.2%, or $0.20, at $86.38 a barrel, while WTI futures were 0.7% lower at around $82 a barrel.