On Tuesday, the prices of gold remained relatively unchanged as investors refrained from making major bets ahead of a report on inflation in the United States that could provide a new perspective on the timing of the first interest rate cut by the Federal Reserve.
Gold settled in cash transactions at 2018.71 dollars per ounce at 0424 GMT, after briefly falling to its lowest level in over two weeks at 2011.72 dollars per ounce last Monday.
The future gold contracts in the United States did not undergo significant changes and stabilized at $2032.30 per ounce.
It is expected that the trading volume will be low due to the closure of markets in China and Hong Kong for the Lunar New Year celebrations.
Investors chose not to make big bets before the inflation report in the United States, which could provide insights into when the US central bank, the Federal Reserve, might make its first interest rate cut. As a result, gold prices did not see significant changes on Tuesday.
Gold was established in cash transactions at $2018.71 per ounce at 04:24 GMT, after briefly falling to its lowest level in over two weeks at $2011.72 per ounce yesterday, Monday.
Future gold contracts in the United States remained largely unchanged and stabilized at $2032.30 per ounce. It is anticipated that trading volume will be low due to the closure of markets in China and Hong Kong for the Lunar New Year holiday. All eyes are on the inflation data from the United States Consumer Price Index for January, which is scheduled to be released at 13:30 GMT.
With regards to other precious metals, platinum remained steady in immediate transactions at $888.89 per ounce, while palladium rose by 1.5% to $905.71 and silver increased by 0.1% to $22.71. (Source: Reuters)
