Gold prices recorded a rise in early trading on Thursday, supported by a decline in the dollar and Treasury bond yields after the Federal Reserve (the US central bank) kept interest rates unchanged and amid increasing investor bets that the central bank may have reached the end of this cycle of raising interest rates.
“I think there may be some support from the idea that the Fed seems to be signaling that rate hikes are over,” said Ilya Spivak, head of global macroeconomics at Tasty Live.
Yesterday, the reserve kept interest rates steady, as was widely expected.
The dollar index fell 0.5 percent, and US standard ten-year Treasury bond yields fell to their lowest levels in more than two weeks.
Price changes
By 0310 GMT, gold in spot transactions rose 0.1 percent to $1,983.77 per ounce, and US gold futures contracts increased 0.2 percent to $1,991.80.
As for other precious metals, silver settled in spot transactions at $22.98 per ounce, platinum increased 0.6 percent to $926.08, and palladium rose 1 percent to $1,114.02 per ounce.
