Gold gains on inflation data
Thursday, 13 June 2024
Gold prices rose 1 per cent on Wednesday after a surprisingly soft US consumer inflation report raised hopes for an interest rate cut in 2024, while investors awaited the release of the Federal Reserve's latest policy statement and economic projections, reports Reuters.
Spot gold was up 1 per cent at $2,338.59 per ounce as of 1311 GMT. US gold futures rose 1.2 per cent to $2,335.50.
Meanwhile, Spot silver rose 3.2 per cent to $30.19 per ounce, platinum rose 2.2 per cent at $972.60 and palladium gained 4.8 per cent to $926.25.