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Global Gold Prices Rise — Details - Jordan News
Global Gold Prices Rise — Details - Jordan News

Jordan News

time5 days ago

  • Business
  • Jordan News

Global Gold Prices Rise — Details - Jordan News

Global Gold Prices Rise — Details Gold prices rose on Tuesday, supported by growing global trade tensions that boosted demand for safe-haven assets, as investors awaited the release of U.S. Consumer Price Index (CPI) data later in the day — a key indicator for the Federal Reserve's future interest rate path. اضافة اعلان The spot price of gold increased by 0.5% to $3,359.01 per ounce as of 06:35 GMT, while U.S. gold futures rose 0.3% to $3,368.20 per ounce. Tim Water, Chief Market Analyst at KCM Trade, stated: "Gold has historically proven to be a preferred destination during times of rising trade tensions. The move toward $3,350 reflects that pattern. However, elevated U.S. bond yields and a strong dollar are significant headwinds. For gold to make further progress toward $3,400, we'd likely need a pullback in either the dollar or yields — absent any intensified geopolitical developments." U.S. President Donald Trump had threatened on Saturday to impose a 30% tariff on imports from Mexico and the European Union starting August 1st, if a trade deal is not reached. The U.S. inflation data for June is expected at 12:30 GMT today. Economists surveyed by Reuters forecast the annual inflation rate to rise to 2.7%, up from 2.4% in May, while core inflation is projected to climb to 3.0% from 2.8%. Water added: 'Gold typically thrives in a low interest rate environment and is considered a safe haven during times of economic uncertainty.' As for other precious metals: Spot silver rose 0.5% to $38.32 per ounce, marking its highest level since September 2011. Platinum gained 1.1% to $1,379.22, Palladium increased 0.5% to $1,200.01.

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