Gold remains stable at around $4,467!
Silver fell 0.5% to trade at around $66.90.
Spot gold traded steadily at around $4,467 this morning. Gold prices are set to end the week with a modest gain following the sharp decline seen on Tuesday. Market participants are closely watching statements on the US Federal Reserve’s interest rate policy and new economic data to determine the precious metal’s next direction. Federal Reserve official Christopher Waller said that if price pressures continue to ease, he could support keeping interest rates unchanged. According to Waller, the decision is expected to depend significantly on the August inflation data due to be released next week. The dollar’s decline to its lowest level since May has made gold more attractive to investors using other currencies. Investors are focusing on employment data due today and next week’s inflation figures. Other precious metals are also declining. Silver fell 0.5% to trade around $66.90. Platinum and palladium also declined. Markets are currently awaiting new signals on the health of the US economy and the future trajectory of interest rates.