Gold Recovers While Silver Slips, Markets Await US Inflation Data And Fed Decision
Mumbai: Gold and silver prices traded mixed on Thursday morning as investors remained cautious before US inflation readings and the Federal Reserve’s September policy decision. Mixed moves reflected caution across precious metals, with traders avoiding aggressive positions before the release of US macroeconomic indicators. Gold recovers after weak opening October gold futures opened at Rs…
Dubai gold prices fell slightly on Thursday, with the 24K rate dropping to Dh531.25 per gram, a reduction from Dh532 at Wednesday’s close. Meanwhile, 22K gold remained at Dh492, unchanged from the previous day. This price decline occurred as the global price of gold stayed above $4,400 an ounce, and investors waited for fresh inflation data from the Federal Reserve.
The decline in gold was attributed to a weaker US dollar, which makes the metal more affordable for buyers holding other currencies. Additionally, concerns about US fiscal pressures and potential higher interest rates were also influencing the market. Investors were closely monitoring the US producer-price data, expected on Thursday, and consumer inflation figures, due on Friday, as stronger inflation could impact the Fed's interest-rate path.
While the wider geopolitical situation in the Arabian Gulf was not the primary factor driving gold prices, it remained a significant concern.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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