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Inflation in the US is reflected in the price of gold

Inflation in the US is reflected in the price of gold

Gold rose today, Thursday, in immediate transactions, 0.1% to $ 1816.63 an ounce, after falling more than 1% in the previous session.

Inflation in the US is reflected in the price of gold


“We are still in the post-shock phase of that consumer price index,” said Kyle Roda, an analyst at IG Market. The expectation in the market now is that the Fed will have to do something about inflation. ”


He added, according to "Reuters", that "the Fed confirms that inflation will be temporary, without raising concerns about adjusting interest rates."


Data on Wednesday showed that US consumer prices increased at the fastest pace in nearly 12 years in April. This increases concern about increased inflation.


That concern raised the yields of record ten-year US Treasury bonds to their highest levels in more than a month, while the dollar stabilized.


On the other hand, palladium increased 0.9% to $ 2881.61 an ounce. Silver fell 0.5% to $ 26.90 an ounce. While platinum rose 0.2% to $ 1211.87.

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