Gold exceeds $ 1,900 as the dollar and US bond yields decline | latest news

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Gold prices rose above $1,900 an ounce Friday, June 11th, supported by a weaker dollar and lower Treasury yields, after data showing high inflation in the United States was deemed insufficient for the US Federal Reserve to change its monetary policy.

And gold rose in spot transactions 0.1% to $ 1900.10 an ounce by 05:18 GMT. Prices have increased more than 0.5% since the beginning of the week. US gold futures rose 0.3% to $1,902.7 an ounce.

Data revealed that US consumer prices rose strongly in May, which led to the largest annual increase in nearly 13 years, while weekly jobless claims fell to their lowest levels in nearly 15 months last week.

Record US treasury yields fell to their lowest level in three months, reducing the opportunity cost of acquiring the yellow metal that does not yield a return. Meanwhile, the dollar index fell 0.1% after hitting its highest level in nearly a week in the previous session.

On Thursday, the European Central Bank kept its monetary policy unchanged and pledged a regular flow of stimulus during the summer.

Attention now turns to the US Central Bank’s policy meeting scheduled for June 15-16.

As for other precious metals, silver rose 0.4% to $28.07 per ounce, while platinum gained 0.1% to $1151.98. And palladium fell 0.1% to $ 2772.71 and is on the path of recording a weekly decline.





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