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Gold
Price Rises amid Expectations of US Federal Reserve Interest Rate Cut
Singapore,
12 Jun (ONA) — Gold pricesrose today, while US inflation data raised
expectations of potential interest rate cuts by the Federal Reserve.
Spot
gold was up 0.3% at $3,364.10 an ounce.
US
gold futures gained 1.2% to $3,384.40.
Spot
silver was up 0.3% at $36.32 per ounce, platinum rose 0.8% to $1,265.32, still
hovering near more than 4-year high, while palladium was down 1% at $1,069.65.
Data
showed the Consumer Price Index rose 0.1% in May 2024, below economists’
expectations of 0.2%.
—Ends/AG
