Gold prices remain steady near one-month low despite upbeat US inflation data
2023-08-12T06:40:54+00:00
Shafaq News/ Gold prices stabilized near the lowest level in a month, ignoring the better-than-expected US inflation data for the past month, to end the week with losses.
Gold prices rose in spot transactions by 0.08% to 1913.53 dollars an ounce, but it was trading near the lowest level since the seventh of July, which it touched earlier in the day. It ended the week with a loss of 1.45%.
Gold recorded gains of 0.8% the day before yesterday, Thursday, after data showed that the US consumer price index rose less than expected in July, which increased bets that the US Federal Reserve is unlikely to raise interest rates again in 2023.
