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Gold firms on softer dollar --

Thursday, 25 January 2024


Gold eked out gains on Wednesday due to a lower dollar, as investors awaited a deluge of economic news in the US this week for more clues on the pace and scale of the Federal Reserve's interest rate cuts, reports Reuters.
Spot gold edged up 0.2 per cent to $2,032.88 per ounce by 12:50 GMT. US gold futures rose 0.42 per cent to $2,034.30.
The dollar slipped 0.5 per cent against its rivals, after hitting its highest since Dec. 13 on Tuesday, while the Benchmark 10-year Treasury yield also edged lower but remained above 4 per cent.
Spot silver rose 1.5 per cent to $22.77 per ounce, platinum was up 1 per cent to $908.91, and palladium rose 1.7 per cent to $963.64.