Gold futures for February delivery closed up $3.50, or 0.2%, at $1,801.50 an ounce on Thursday (8th).
(Reuters file photo)
[Financial Channel/Comprehensive Report] Gold futures for February delivery regained the $1,800 mark for the first time in four trading days due to a weaker U.S. dollar and the purchase of gold by the People's Bank of China. $1801.50 an ounce.
"MarketWatch" reported that Chintan Karnani, director of research at Insignia Consultants, said that with China's opening up, China's retail demand for gold is expected to rise sharply, so it is one of the reasons for the rise.
Please read on...
In addition, investors are also paying attention to the Consumer Price Index (CPI) and the US Federal Reserve (Fed) decision-making meeting in December this Friday and next week. The market expects the Fed to raise interest rates by 2 yards (50 basis points).
Edward Moya, senior market analyst at OANDA, said a weaker dollar ahead of a flurry of U.S. inflation data was another factor supporting gold prices.
In other precious metals, silver futures for March delivery rose 32 cents, or 1.4%, to $23.246 an ounce; palladium for March delivery rose $76.50, or 4.1%, to $1,930.80 an ounce; platinum for January delivery rose 3.10 cents. U.S. dollars, or 0.3 percent, at $1,014.60 an ounce.
Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel
Already added friends, thank you
Welcome to 【Free Finance】
Already liked it, thank you.