The world price of gold today, July 5; 2323 dollars and 18 cents per ounce
According to Mehr news agency, citing Reuters, the price of gold has decreased in the first trading hours on Tuesday. Investors are awaiting US inflation data due this week, which will provide more clues about the Federal Reserve’s interest rate policy.
The price of gold per ounce decreased by 0.49% to $2,323 and 18 cents today. The price of gold futures on Comex New York has reached $2,338 and 10 cents with a decrease of 0.27%.
The price of gold fell by more than 1% on Friday following the increase in the value of the dollar. Business activity in America in June has reached the highest figure in the last 26 months.
The US GDP report for the first quarter of this year will be released on Thursday and the consumer price index will be released on Friday. If this index is high, it will not be good news for gold and it will keep it below the level of 2300 dollars.
Decreasing the interest rate reduces the cost of keeping gold as a non-profitable capital and increases the desire to buy it.
The head of the San Francisco Federal Reserve said on Friday that the US central bank will not lower the interest rate until it is sure of the downward trend of inflation to the 2% target.
Among other precious metals, the price of silver decreased by 0.21% to 29 dollars and 79 cents. Platinum is traded with an increase of 0.36% to $1002 and 36 cents.
