Gold price today: Gold rate goes up. Will it fall soon?
Gold
prices edged higher on Tuesday. Spot gold was up 0.3 per cent at $3,336.33 an ounce, after falling to a low of $3,301.54 earlier in the session. U.S. gold futures were up 0.1 per cent at $3,357.20, as per a report.
Investors awaited more clarity on the US-China trade talks and looked forward to key U.S. inflation data due this week for clues on the Federal Reserve's future interest rate decisions.
"Gold found some floor amid dip-buying, though the uptick lacked bullish conviction. Fiscal concerns and Fed rate cut bets are the catalyst for a recovery in the prices," said Jigar Trivedi, senior commodity analyst at Reliance Securities, Reuters reported.
Top officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths, with trade talks extending to a second day in London.
The US and China imposed reciprocal tariffs in April, which ignited trade war concerns. But last month, both countries agreed to a temporary pause in tariffs against each other, offering some relief to financial markets.
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Investors now await the Consumer Price Index data on Wednesday to analyse the Fed's policy path. The CPI report will be one of the last key pieces of data before the Fed's June 17-18 meeting, where it is widely expected to hold rates.
Spot silver was steady at $36.72 per ounce, hovering near a more than 13-year high. Platinum eased 0.1 per cent to $1,218.85, after hitting its highest level since May 2021. Palladium lost 1.4 per cent to $1,059.02.
FAQs
Q1. What are current prices of Silver, Platinum?
A1. Spot silver was steady at $36.72 per ounce, hovering near a more than 13-year high. Platinum eased 0.1 per cent to $1,218.85, after hitting its highest level since May 2021.
Q2. What are gold prices?
A2. Spot gold was up 0.3 per cent at $3,336.33 an ounce, after falling to a low of $3,301.54 earlier in the session. U.S. gold futures were up 0.1 per cent at $3,357.20.
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