Gold futures prices rose at the close of trading on Wednesday, amid a decline in US bond yields, after data boosted hopes that the Federal Reserve is nearing the end of its monetary tightening cycle, with geopolitical tensions in Ukraine and the Middle East supporting demand for safe haven assets.
At settlement, the prices of gold futures for February delivery – the most active – rose by 0.55% or 11.6 dollars at 2047.9 dollars per ounce, having touched during the session 2053.4 dollars.
While the value of the dollar index-which measures the performance of the US currency against a basket of six major currencies – stabilized at 104.09 points.
