Global Gold Prices Surge 2.4% to $4,175, Hitting a One-Month High

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Summary · why it matters

Global gold prices surged 2.4% to $4,175.53 per ounce, the highest level in one month, during Wednesday trading, supported by a weaker US dollar and falling oil prices. Spot gold rose for a third consecutive day, while US gold futures gained 2% to $4,235.30 per ounce. Investors are watching US employment data to assess the Federal Reserve's interest rate direction. Meanwhile, softer oil prices helped ease inflation concerns, leading the market to scale back expectations of a Fed rate hike at the September meeting. Other precious metals also advanced, with silver up 3.8% to $61.76 per ounce, platinum up 2.6% to $1,779.25 per ounce, and palladium up 2.6% to $1,389.15 per ounce.

Impact on assets 4

Others▲ · 4 stocks
⛏Gold Futures
GOLD
▲ PositiveMonetaryrelevance

Weaker dollar and expectations of Fed rate hike scaling back boost gold prices.

⛏Silver Futures
SILVER
▲ PositiveMonetaryrelevance

Silver rises 3.8% alongside gold on weaker dollar and Fed expectations.

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