Gold prices rise as inflation fears ease, Fed policy eyed
Gold prices climbed after a previous sell-off, buoyed by lower oil prices and investor focus on US Federal Reserve interest rate signals.
Key Takeaways
AIGold prices rose in Singapore today following a previous session sell-off, supported by a decline in oil prices that helped ease concerns about inflation.
The gains came as investors assessed comments from US Federal Reserve officials for clues on the direction of American interest rates.
Spot gold increased by 0.7% to $3,900.90 per ounce, while US gold futures for December delivery rose 0.3% to $3,909.70 per ounce.
Performance of other precious metals
- Spot silver gained 1.8% to $49.97 per ounce.
- Platinum edged up 0.1% to $1,432.63 per ounce.
- Palladium was steady at $976.31 per ounce.