Gold gains as markets assessed US interest rate path

Gold prices rose today, Monday, despite the statements of the Chairman of the Federal Reserve (US Central Bank) about the possibility of implementing more interest rate hikes, as markets seek indications through economic data this week to draw a clearer picture of the path of interest rates. ,

According to Reuters, gold in spot transactions increased 0.1% to $1915.99 an ounce by 0549 GMT, with the dollar index abandoning a 12-week peak. US gold futures rose 0.2% to $1,943.80

Higher interest rates would reduce demand for the precious metal, which does not yield a return

A series of economic data this week, including the US core PCE price index and the non-farm payroll report, is likely to provide a clearer picture of the economy’s strength.

As for other precious metals, silver fell in spot transactions by 0.2%, to $24.17 an ounce, and platinum, by 0.1%, to $944.06. Palladium increased 0.5% to $1,230.74.