Gold prices rise on US inflation data
13.04.2023 19:00
Gold prices rose on April 13 morning, as markets continue to evaluate statistics on inflation in the US for March, reported from the auction data.
The price of June gold futures on the New York Comex exchange rose by $7 (0.35%) to $2,032.05 per troy ounce. May futures for silver rose 0.57% to $25.602 an ounce.
The growth of consumer prices in the US in March slowed down to 5% from 6% a month earlier. Analysts had expected the figure at around 5.2%. Annual inflation is at its lowest level since May 2021.
Investors also evaluate the protocol of the US Federal Reserve System, according to which a number of participants in the March meeting considered maintaining the base rate at the same level, but recognized the expediency of raising it by 25 basis points in the current conditions.
In addition, the central bank predicted the beginning of a "soft” recession in the US by the end of the year.
The price of US government bonds also has an impact on gold quotes. The yield on ten-year US government bonds (US Treasuries) fell to 3.413% from 3.421% on the previous trading day. US government bonds constitute an alternative to gold as a reliable asset.
www.anews.az
The price of June gold futures on the New York Comex exchange rose by $7 (0.35%) to $2,032.05 per troy ounce. May futures for silver rose 0.57% to $25.602 an ounce.
The growth of consumer prices in the US in March slowed down to 5% from 6% a month earlier. Analysts had expected the figure at around 5.2%. Annual inflation is at its lowest level since May 2021.
Investors also evaluate the protocol of the US Federal Reserve System, according to which a number of participants in the March meeting considered maintaining the base rate at the same level, but recognized the expediency of raising it by 25 basis points in the current conditions.
In addition, the central bank predicted the beginning of a "soft” recession in the US by the end of the year.
The price of US government bonds also has an impact on gold quotes. The yield on ten-year US government bonds (US Treasuries) fell to 3.413% from 3.421% on the previous trading day. US government bonds constitute an alternative to gold as a reliable asset.
www.anews.az
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