Gold rises amid anticipation of US inflation data ‎

Gold prices rose today, Monday, supported by the decline of the dollar, amid investors’ anticipation of inflation data in the United States, which may make the Federal Reserve (the US central bank) tend to raise interest rates later in the year.

According to “Reuters”, gold in spot transactions jumped 0.5% to $1927.39 an ounce by 0614 GMT, while US gold futures rose 0.4% to $1950.80.

US consumer price index data for August, due to be released on Wednesday, is expected to set the tone for the Federal Reserve’s interest rate decisions this year.

The dollar fell 0.5% and 10-year Treasury yields fell 0.3%, making non-yielding bullion more attractive to overseas buyers.

As for other precious metals, spot silver jumped 0.7% to $23.07 an ounce. Platinum increased 0.7% to $898.55 after declining 7% last week, and palladium rose 0.7% to $1206.21.