Gold prices rise as dollar weakens; investors await US economic data
2024-07-23T07:57:08+00:00
Shafaq News/ Gold prices climbed on Tuesday as the dollar continued its decline, while investors await key US economic data later this week that may shed light on the Federal Reserve's interest rate cut timeline.
In early trading, spot gold rose by 0.2% to $2,401.22 per ounce as of 02:04 GMT. US gold futures increased by 0.4% to $2,403.60.
Traders are looking forward to Thursday's second-quarter GDP report and Friday's June personal consumption expenditures data for insights into future monetary policy moves by the Federal Reserve, according to Reuters.
In other precious metals, silver fell by 0.2% to $29.14 per ounce, platinum was at $951.13 per ounce, and palladium gained 0.1% to $908.43 per ounce.
