Gold rises after US inflation data

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And gold rose in immediate transactions 0.3 percent to $ 1893.75 an ounce (ounce) by 1743 GMT, after it reached its lowest level since the fourth of June at $1869.46 earlier in the session..

US gold futures contracts were settled at $1896.40 an ounce.

Data showed a further rise in Consumer prices in the United States in May, as the continuing economic recovery from the pandemic increased domestic demand. Weekly jobless claims also fell to their lowest level in nearly 15 months.

“The most important takeaway (from… inflation data) is that this market strongly believes that the US Federal Reserve will not change its position any time soon“.

As for other precious metals, palladium fell 0.6 percent to $2,762.56, while platinum fell 0.4 percent to $1,145.23..

Silver advanced 0.5 percent to $27.88 an ounce.







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