Gold prices near lowest level in a week

Gold prices approached their lowest level in a week on Thursday, amid the strength of the dollar and rising bond yields, while investors awaited the gross domestic product data in the United States and the European Central Bank’s monetary policy meeting later today.

Gold rose in spot transactions by 0.2% to $2,015.83 per ounce, while US gold futures saw no significant change at $2,015.80.

Gold fell to its lowest level in about a week yesterday, after data showed that the US economy began 2024 with a strong performance, amid a recovery in commercial activity and indications of a slowdown in inflation.