Gold Gains as Dollar Falls and Rates Outlook stabilizes
Gold prices rose today due to the decline in the dollar after US inflation data showed a slowdown that reinforces expectations of the Federal Reserve holding interest rates steady at its upcoming meeting. The price of an ounce exceeded $4,433, reaching its highest level in more than two months, as the dollar index fell by 0.3%. This coincided with an unexpected decrease in US non-farm payrolls, which reduced the likelihood of an interest rate hike next time. It is expected that the US central bank will keep interest rates between 3.50% and 3.75%.
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