- Gold prices rose in early global trading today, Thursday, supported by a weaker dollar and hopes for a cut in US interest rates, while the focus shifted to key inflation data in the United States.
- Spot gold rose 0.5% to $2,513.77 an ounce, while US gold futures rose 0.4% to $2,546.80.
- Gold hit an all-time high of $2,531.60 on August 20, and has gained 22% so far this year.
- The dollar fell 0.1%, making gold more attractive to holders of other currencies. U.S. Treasury yields also fell.
- Investors are awaiting US unemployment claims and GDP data due later today.
- Personal consumption expenditure data is also due out on Friday and could provide further clues on the path of interest rates.
- Among other precious metals, spot silver rose 0.91% to $29.38 an ounce, platinum rose 0.5% to $934.52 an ounce, and palladium gained 0.3% to $948.95 an ounce.
