Gold prices rise on lower expectations for Fed rate hike
Gold rises as softer US inflation tempers Fed rate-hike bets
Gold prices rose on Thursday after softer-than-expected US inflation data reduced expectations that the Federal Reserve would raise interest rates at its meeting this month.
The dollar index, which tracks the US currency against six major peers, rose 0.20% to 101.65 points.
Data released on Sept. 30 showed US inflation rose less than expected in August, while the previous month’s figures were revised lower. Markets are now pricing in a 38% chance of an October rate hike, down from 45% before the data was released.
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Precious Metal Price Changes |
|||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
|
Gold futures (December) |
4,212.50 |
+25.80 |
+0.60% |
|
Spot gold |
4,184.05 |
+26.64 |
+0.65% |
|
Silver futures (December) |
61.575 |
+1.009 |
+1.65% |
|
Spot silver |
61.27 |
+0.85 |
+1.40% |
|
Spot platinum |
1,727.38 |
+11.16 |
+0.65% |
|
Spot palladium |
1,218.56 |
+10.59 |
+0.90% |
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