Gold prices fall in early trading

Gold prices fell in early Thursday trading on November 14th, 2024. Spot gold rose 0.60 per cent to $2,557.49 per ounce by 7:42 GMT, compared to Wednesday’s close of $2,572.93, pressured by a stronger US dollar and higher Treasury yields.

US gold futures also saw a lift, gaining 0.96 per cent to $2,561.55 from Wednesday’s $2,586.5 closing.

Investors are awaiting US Producer Price Index (PPI) and jobless claims data at 1330 GMT, along with remarks from Fed Chair Jerome Powell on rate expectations amidst ongoing inflation concerns.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama