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HomeBusinessMarketGold prices steady near $1,800 per ounce after back-to-back gains

Gold prices steady near $1,800 per ounce after back-to-back gains

Gold costs had been flat on Thursday after tallying back-to-back positive factors because the current rally once more stalled out proper across the $1,800 per ounce degree.

Price motion
  • February gold 
    GC00,
    +0.21%

     
    GCG23,
    +0.21%

    was flat at $1,797 per ounce on Comex.

  • Silver for March
    SI00,
    +1.45%

     
    SIH23,
    +1.45%

    supply added 1 cent, or lower than 0.1%, to $22.93 per ounce.

  • March palladium costs
    PAH23,
    +0.50%

    climbed by $4.70, or practically 0.3%, to $1,859 per ounce, whereas January platinum
    PLF23,
    +0.11%

    rose $9.80, or 1%, to $1,026 per ounce.

  • Copper costs for March
    HGH23,
    +1.15%

    climbed 3 cents, or 0.8%, to $3.89 per pound.

Market drivers

Gold traders are taking a look at loads of occasion threat within the coming days, together with U.S. inflation experiences on Friday and subsequent week, in addition to a gathering of the Federal Reserve the place traders anticipate the central financial institution to lift its benchmark rate of interest by 0.5 share factors.

“The inflation data tomorrow and on Wednesday could give the yellow metal a boost but it’s the fear of entrenched inflation that could nudge the terminal rate higher. Investors will want to hear what the Fed has to say on the nasty wages surprise last week,” stated Craig Erlam, senior market analyst at OANDA.

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