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Gold: price stability

08/01/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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After last week's mixed U.S. economic data left traders looking for more clues about the pace and extent of Federal Reserve interest rate cuts, the With the focus now on key inflation figures expected later in the week, gold prices remained stable on Monday.

After falling last Friday, spot gold was unchanged at $2,044.49 per ounce at 01:39 GMT. US gold futures rose 0.1% to $2,051.10 per ounce. Trade was weak in Asia, with the Japanese market remaining closed due to holidays. COMEX gold speculators increased their net long position from 2,009 contracts to 137,516 during the week of January 2, according to data

released on Friday.

Spot silver was little changed at $23.17 per ounce, while platinum rose 0.3% to $963.24 and palladium gained 0.3% to $1,030.28 after a nine-session decline.

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