Gold prices rise after recording the lowest settlement in 6 months

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Gold prices rose during trading Thursday, after recording the lowest settlement in 6 months yesterday, amid anticipation of the release of economic data, and following up on the statements of Federal Reserve officials.

And Mardi Daly, President of the Federal Reserve Bank of San Francisco, expected that the US central bank would not move towards increasing the interest rate in 2022, in light of the widening gaps related to economic opportunities, wealth and prosperity.

In terms of trading, gold futures contracts for December delivery increased by 0.3% at $1,728.70 an ounce, during trading, after recording $1,722.90 an ounce at the settlement of trading yesterday, which is the lowest level for the most active contract since last March.

The price of spot delivery of the yellow metal also rose 0.1% to 1728.12 dollars an ounce.

And silver futures contracts for December delivery rose 0.3% to $21.55 an ounce.

The spot price for platinum delivery rose 0.6% to $959.88 an ounce, while the spot price of palladium increased by 1.6 percent, recording $1,859.50 an ounce.
The main dollar index, which measures the performance of the US currency against a basket of six currencies, settled at 94.308 points.

The final US GDP reading for the second quarter, as well as the jobless claims data for last week, are due later today.

Source: numbers

The article, gold prices rise after recording the lowest settlement in 6 months, was written in Al Borsa newspaper.