Gold touches month-low ahead of inflation data release in ‎America

Gold prices touched near their lowest levels in a month today, Thursday, at a time when investors are awaiting inflation data in America, which may determine the course that the US Central Bank will take regarding interest rates in the coming period.

Gold increased 0.2% in spot transactions, to $ 1918 an ounce (ounce) by 0337 GMT, but it touched near its lowest level since July 10, which it recorded yesterday, while US gold futures contracts settled at $ 1950.80.

US CPI data, due at 1230 GMT, is expected to show a slight acceleration in inflation in July.

Gold is usually seen as a hedge against inflation, but raising interest rates increases the opportunity cost of holding non-return bullion.

As for other precious metals, silver did not witness a significant change in spot transactions and settled at $22.67 an ounce, platinum increased 0.3% to $890.87, while palladium rose 0.3% to $1238.63.