Gold bullion
Gold prices rose on Thursday trading, as bargain buying followed a decline in the yellow metal’s price in the previous session, amid market anticipation of US economic data. 
Meanwhile, the US dollar index – which measures the greenback’s performance against a basket of six major currencies – held steady to trade at 103.20 points, marking its highest level in 19 months.
According to the CME Group’s “FedWatch” tool, markets see an 89% chance the Federal Reserve will raise interest rates by 25 basis points in December, while the probability of a 50 basis point increase stands at about 11%.
This comes after data showed the number of Americans filing new jobless claims rose last week by more than expected, but remained at a level reflecting a stable labor market.
Market participants await the release of US producer price index (PPI) data later today, with expectations that monthly inflation will slow to 0.4% in October from 1.3% in September.
Changes in Precious Metals Prices in Futures and Spot Markets
Metal
Price ($/ounce)
Amount of change ($)
Change (%)
Gold(delivery December)
3,902.50
+17.20
+0.45%
Gold(spot)
3,896.88
+19.81
+0.50%
Silver(December delivery)
50.03
(0.03)
—
Silver(spot)
49.9442
(0.08)
(0.15%)
Platinum(spot)
1524.04
+0.87
—
Palladium(spot)
1006.84
+9.08
+0.90%
* At 09:20 a.m. Makkah time.
Gold bullion
Gold prices rose on Thursday trading, as bargain buying followed a decline in the yellow metal’s price in the previous session, amid market anticipation of US economic data.
Meanwhile, the US dollar index – which measures the greenback’s performance against a basket of six major currencies – held steady to trade at 103.20 points, marking its highest level in 19 months.
According to the CME Group’s “FedWatch” tool, markets see an 89% chance the Federal Reserve will raise interest rates by 25 basis points in December, while the probability of a 50 basis point increase stands at about 11%.
This comes after data showed the number of Americans filing new jobless claims rose last week by more than expected, but remained at a level reflecting a stable labor market.
Market participants await the release of US producer price index (PPI) data later today, with expectations that monthly inflation will slow to 0.4% in October from 1.3% in September.
Changes in Precious Metals Prices in Futures and Spot Markets
Metal
Price ($/ounce)
Amount of change ($)
Change (%)
Gold(delivery December)
3,902.50
+17.20
+0.45%
Gold(spot)
3,896.88
+19.81
+0.50%
Silver(December delivery)
50.03
(0.03)
—
Silver(spot)
49.9442
(0.08)
(0.15%)
Platinum(spot)
1524.04
+0.87
—
Palladium(spot)
1006.84
+9.08
+0.90%
* At 09:20 a.m. Makkah time.
